Yes as warned consolidation has resulted in downward adjustment in price ...I agree with previous writers ..time for adjustment then pattern will readjust to earnings coming through and production starting shortly. Some will panic resulting in selling below the consolidate book value ..book value before consolidation was 0.058c this makes a consolidated book value of 20x0.058 = $1.16. At an apparent price of $1.045 the shares are selling below Book value $1.16.... and about a fall in 12c is the consolidation effect . This price should soon adjust to $1.16 and $1.045 represents a price fundamentally out of line with book value and below the pre consolidation price of 20x0.057=$1.14. within a week or so price will readjust. Patience and no panic is required . All the Best to All
PEN Price at posting:
5.7¢ Sentiment: Buy Disclosure: Held
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