hey Two, Growth in spades, however.... as myself and others have pondered, why is PNR taking such a paced approach to growth, versus say, OBM... (the exact opposite)? OBMs MD has shown that being bold, can be incredibly well received when backed by actual progress.
The fact PNR has an E/V of just over $500m is criminal in the current bull market. Clearly the major holders are incredibly patient, but then.... if @Joelstar is correct, why have they got the their door open to potential enquirers?
I note WGX has drawn down $50m of their debt facility, which gives me pause to thinking that they will have a tilt at PNR in the near term. Perhaps they are happy enough to wait and see if Scotia U/G can produce as expected... which gives them 4-5 months to build up more cash and I assume, be in a stronger position to offer a script deal for PNR.
I also find it a little frustrating to see that whilst exploration is ramping up (slowly), there is just so many targets.... why not expand the drilling to hit a few more targets, even just very selectively....
If I was not already overweight in PNR, I would be added to my position, as I see the company as either getting a 50% premium offer, or... just hitting their guidance, and .... getting rewarded for it.
All IMHO and not financial advice at all.
PNR Price at posting:
9.8¢ Sentiment: Hold Disclosure: Held
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