The market cap at 5.5 cents is just $90M which is approx just the value of PTN's Cash + liquid assets (listed asx shares), therefore little or no valuation for the company's 2.3 million oz gold resource or NT gold, silver, zinc & uranium assets. PTN is significantly undervalued and should be trading for atleast 2 x the current market cap value.Hence why the SBM share buyback was a very good deal.
Ann: Patronus to buyback 9.66% of share register, page-18
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