SHORTS & capper in charge, at all time lows,
capitulation trade must be here already.
CR at 5.0 when it was 10.0c is now looking a wise move
Its all about the high costs and continued operation at NP of 8.40 near the DFS target of 8.00
Market is valuing the revenue & production at nothing and thinks it will go into C&M.
Market doesnt think there will be a bid either.
Market thinks the loss production is unsustainable.
If NP breaches 8.00 & they cant cut costs then it may be C&M here which in the past has been happening.
Last time PAN went into C&M the NP was at 7.00 & they sold off Lanfranchi to BMM & Mt Jewel to SGQ both of which are still not producing & Lanfranchi cant even get any offtake from BHP after 6 years.
When will the chart floor, no end in sight, everytime it looks like it, it goes lower, the capper is running it into the ground.
PAN Price at posting:
3.7¢ Sentiment: Buy Disclosure: Not Held
