Guys just a little follow on from my post today on the ozl board.
Should PNA be running the ruler over RXM ? The small cap copper companies are really struggling.RXM, AOH and IVA are all red most days lately. RXM is very vulnerable at this price.
For PNA it is all around risk and cash management. PNA currently has about $30m net cash. While their current operations "will be producing free cash", they would need to find need to find about $180m for RXM (market cap plus 30% premium) plus another $650m for capex. I'm going to have think ask a few questions, welcome some other opinions from some others on this board. If in fact PNA have got the bal sheet strength and projected free cash flows to manage this?
With Inca getting deferred i feel they could fund it at the current poc, pog but what happens if prices fell further. Stef where are you :-)
PNA Price at posting:
$2.40 Sentiment: LT Buy Disclosure: Held
