re: Ann: Placement at Premium - Cornerstone I... Yea that 50 mill was just a boost for appearances (untrainable to expect that to have been used), but today's is a done deal.
Long term this is about the best development they could get (apart from having let it run a lot higher first) but they've settled at a good price considering PEN's long term performance.
I think it's time for the pie in the sky expectations to go do the real business maths like the big money does. Ie as I've said $ per year at a low PE ratio (eg. 5). It wouldn't put the stock past roughly 15c and you couldn't see it get there until it's producing full speed in 2014 apparently.
Very rough estimate you can criticize, but my point is valuations are going to be tempered with real business compromises like we've seen today.
Now I will actually say PEN is moving to be a lower end risk play, once this deal is done.
re: Ann: Placement at Premium - Cornerstone I... Yea that 50...
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Last
8.4¢ |
Change
-0.001(1.18%) |
Mkt cap ! $270.8M | |||
| Open | High | Low | Value | Volume |
| 8.5¢ | 8.6¢ | 8.2¢ | $269.7K | 3.225M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 341909 | 8.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 8.4¢ | 183566 | 13 |
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| Last trade - 13.37pm 22/08/2024 (20 minute delay) ? |
| PEN (ASX) Chart |