PP
1. I doubt the approval is pre notified so PM will have mono issue buying as the approval has been pending for months
2. The size of the investment is fantastic as it shows confidence in the value if the shares at mid 7s. I speak to company regularly and I think the upside is in the bigger projects which can transform IMA
3 I agree one needs to looks at cash and inventory minus liabilities but also include value of land and asset value of projects including the NPV of atlas
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-43
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