Interestingly, the updated presentation released this afternoon to please the ASX 'gods', shows a figure that I honestly just glanced over. Also interesting to note they reduced the AISC by $100. WHY!! Be as bloody conservative as you can PNR, you have nothing to lose (you already lost credibility as it is!)
Yet, I am going to go out on a limb and say that management have just maybe, been able to stabalize the operations enough to actually put out slightly realistic numbers.... If PNR even get within 90,000 ounces at $2200 ASIC for CY24, we will see a re-rate. As it would likely see them debt free (with the fact that they started 2024 with $50m in cash/bullion) or close to it. Though that is 4 full quarters away and for now, PNR have basically zero street cred in the sector. Very much reminds me of WGX 2 years ago.
@wassa agree about those grades. Phenomenal really. Shame that to date they have merely helped stem the flow of blood, instead of being a true cash cow
I cannot help but basically repeat myself regarding the value proposition of PNR. Cashed up mid tier mines... don't want to build new projects unless... they have already acquired them dirt cheap like CMM and EMR, so their only option is to expand their existing asset profiles or buy producing assets. PNR need cash to pay off the debt and fast-track more U/G mines... Mid tiers have it and require large production profiles to become more investable for the big end of town. Multiple assets diversify risk between operations etc etc.
They did have an opportunity to provide an update on Jan production, they chose not to, so.. I am guessing it was not great, but.... new contractor, perhaps Feb will be better.
I guess we will see what next week brings for PNR.
PNR Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held
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