CUB What is your estimated timeline for a takeover and at what...

CUB

What is your estimated timeline for a takeover and at what share price?

If the reserves and resource estimates are reasonably accurate then there would be a wide range of Oz mid sized goldies interested in them, including RRL which needs to find another project as the ore at Dukton gets depleted leaving them with only their 30% share of Tropicana and a high capex project that may get developed in NSW.

If PNR's 11 g/t high grade ore is to come from narrow vein mining then there are risks around the estimation of the grade and volume of the ore that is actually mined (and hence costs and production levels). From memory, it seemed to me that the Mt Monger ore mined by SLR used to come in a bit below the reserve grade as did the narrow vein ore produced by MML/X64. I thereforew suspect that PNR's future production will be below their forward projectons. However, PNR could get lucky with some bonanza gold find that they could blend into the mix to maintain a high grade - but first they would need to find this and mine it.

I bought some hopium PNR shares because in relative terms they appear to be cheaper relative to other goldies, but it could be cheaper for very good reasons that are not clear to me.

GL.

loki (throwing the dice while blindfolded)