My view: Is PAN a TO target?, yes but not yet.IGO have around...

My view:
Is PAN a TO target?, yes but not yet.
IGO have around 21%: they have two options.
1. Go hostile? messy, dangerous, expensive and no guarantee of success.
2. SoA, a scheme needs Board approval and an Expert Valuation.
There can be no valuation or bid until after the Full Year Results are published,
along with PoN and outlook/guidance.
In the run up to results the SP should firm considerably,
Upon results: re-rated, Fair value: Hmmm
PH at POS said the other day on the Marcus Today interview that his opinion was that PAN was undervalued 3 or 4 times.
So current fair value should be in the $0.60-0.80 range, before considering a premium for control.
I'll stick a stake in the ground and say $1.00?
So accumulate on weakness.
Disclosure: I currently hold 700k so plenty of skin in this game (all-be-it) considerably underwater.
cheers xanax