help with ta please, page-2

Not sure about TA but fundamentally PNA is a buy. It was pushed up ahead of the entitlement issue by instos probably, then came heaps of good news on funding and offtake agreements, then the entitlement issue at 4:5. So heaps have been bought at both higher prices than this and then at 30 cents. Then more good news on high grades and another possible mine. The only thing that saw PNA at 30 cents was the entitlement issue and this suppressed the reponse to all the good news. I would calculate that of those that bought in the month before the entitlement and then took the entitlement the average price paid would have been around 36 cents. So there are plenty of instos and investors with motivation to see it back well over that price just to break even. The news justifies a price in the 40-50 cent range IMHO....but that may take some time.

H