strong sell, page-5

Hi,
Interesting if you pull apart the analyses.
Looking at Huntley's, they have a value of 63c.
But their assumptions include US2.50 copper, $800 gold, and 80c $US exchange rate.
The commentary suggests that 90% of the value is Phu Kham, with minimal value ascribed to the other assets, because they are not advanced enough.
Their NPV for Phu Kham is 1.5 billion using their assumptions.
They do ascribe an NPV of 2.2 billion to Phu Kham if values close to today's real values for copper, gold and exchange rate are included.
At that level PNA is valued at 75c ON PHU KHAM ALONE.
Would have thought the other projects are worth a lot more than the extra 13c you would have to pay for them at today's share price.
Frankly , I thought PNA was getting ahead of itself at these levels, but i was just getting slack, and hadn't been working the figures as I used to.
Thanks for the thread Scott