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
It looks like Ramp-up issues identified and addressed – processing plant approaching name-plate capacity - 9 months behind schedule. Is now expected to reach name plate production rates by the end of the current financial year, with approximately 110,000 ounces of gold production planned for FY 2024& AISC of A$1,800 - $2,000/oz
Has a 1 Mtpa plant with 46.4 Mt @ 3.2g/t
4.8 million ounces gold - 110kOzpa
Post Cap raising (@ 6 cents so still trading lower than this) has :
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 POG A$2800 - look at 110kOz*900/4700 = 99m/4704m = A 2.1cps
Similar analysis on WAF, RMS & RSG all show P/E of around 6. So if PNR works could get to 12c again. (Yes should be a NPV .... but this is easier)

uncertain of non-sust CAPEX (eg not included in AISC)

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.

Maybe like OBM they need a change of CEO?