re: Ann: June Quarter 2009 Activities and Cas...
HT,
"Two issues from the qtly that concerned me with PNA was a) the neg cash flow for the qtr ( - $11M) and b) cash on hand of only $36M will potentially restrict any rapid development of future growth projects."
The qtly doe not include the cash to be received for the Gram investment of US$170m. Also explains why the shares on issue are only 2.3m as Gram don't have their shares allocated yet. This will be finalsedy next qtr so cash position will b a lot healthier.
PNA Price at posting:
$1.90 Sentiment: LT Buy Disclosure: Held