Ann: Pine Creek Uranium Rights Returned to PNX, page-24

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Rewop

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18/04/24

08:46

Post #: 73399308
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Originally posted by torrita: ↑

Thanks Rewop for that newspaper article .

Observations;
- over the period 2008-2011 when drilling for Uranium,

the MC of Thundelarra (now ASX:OAU) increased by about $50M to $60M.
- when the project fell into our lap last year our MC only increased by $11M (.03c to .05c)

- In 2009 Uranium was fetching $US 42 a pou
nd, (exchange rate at the time was 90c.) or $AUD 46 a pound.

- today Uranium is fetching $US 90 a pound , $AUD140 - a whopping 300 % increase.

- if the market reacted the same way as it did back, we would be trading at 3c not .05c

- February 2011 Thundelarra announced a maiden MRE. The market was disappointed because it only was very small due to not enough drilling.
- Thundelarra feverishly plan the next drilling campaign.
- March 2011 the Fukushima disaster sent the Uranium price down to $US20 a pound. (It costs $30 a pound to mine)

- project mothballed, somehow turns up on our lap.

- below is the Thundelarra chart at the time.

IPOs - if the merger between KIN & PNX was an IPO it would list with MC of about $270 M
I base that on other recent IPOs of BGD and FAL where the market cap was 3 times the amount of cash held.(90 x 3 = 270)

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Thanks torrita, best thing pnx could do is get some drilling happening some fresh hits with the drill in the current environment would really get things moving.
Gold ,silver,zinc and uranium are all doing well at the moment just need some current news to get some attention and hopefully KIN does the same as both SP’s are joined at the hip now.

PNX Price at posting: 0.5¢ Sentiment: Hold Disclosure: Held
4 Upvote

3 Great analysis

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