I continue to fail to see PNA's attractiveness as a takeover target at this point in the commodity cycle.
I certainly wouldn't want to own stock in any company that tried to execute a takeover as the potential for significant value accretion is limited IMO, barring a spectacular exploration discovery. Taking over a resource stock in full production during the height of a commodity boom is risky business IMO.
I personally also wouldn't buy shares in PNA or any other mid cap resource company at the current point in time. risk/reward has change considerably from the days when PNA was getting gorged by the vampire squid, and Copper was trading at 2.00 US per lb.
Not saying Copper isn't the right metal to hold exposure to or that PNA can't go higher or the poc go higher but the days of it being a no brainer are long past.
This is just my personal opinion, probably too conservative, but after two years of gains in the market probably time to proceed with a cool head.
PNA Price at posting:
$4.28 Sentiment: Hold Disclosure: Held
