Don’t miss the early gains which started today. It didn’t quite...

Don’t miss the early gains which started today.

It didn’t quite bust thru 10.5 today, but it will soon enough.

The whole premise of your post is that PAN will actually still be in existence by the time production starts, and you’ll be able to buy cheaper.

That’s not how valuations usually work as you head towards production. As we get closer to completion of capex, risks reduce, SP should increase.

WSA is breathing down PANs neck as well. They won’t want to pay too much, so will have to balance off execution risk of getting the mine running again, against the TO price paid.

CR right now are well received when used to contribute to the production of income, rather than feed directors lifestyles.

I don’t think PAN has been close to being a lifestyle company. I’m sure it’s been no fun working at PAN for quite some time.

I’m thinking of high teens before I exit.