like TRY, DCN and RED (twice now) if it can go wrong it has gone...

like TRY, DCN and RED (twice now) if it can go wrong it has gone wrong for PNR Ramp-up issues identified and addressed – processing plant approaching name-plate capacity - 9 months behind schedule.
1 Mtpa plant with 46.4 Mt @ 3.2g/t for 4.8 million ounces gold - 110kOzpa
Is expected to reach name plate production rates by the end of the current financial year, with this 110kOz planned for FY 2024 & AISC of A$1,800 - $2,000/oz
Post Cap raising will have:
Total Debt A$55m, Cash A$59m - so A$4m cash
4704m SOI - huge number
At least $200m tax losses
So FY24 - best case is say A$2800 - look at 110kOz*900/4700 = 99m/4704m = A 2.1cps
- again around 3 to 1uncertain of non-sus CAPEX (eg not included in AISC) , say a 6:1 P/E look at 12c per share
On the side has a Li resource that MRL are drilling out - this is also next to LTR &
UG mine in Pilbera that is approaching end of life.
Tech analysis look good