example of company with large issued capital, page-3

NKLEX...good to hear from you.

PNA was certainly in the doldrums a few years back but always knew thet the company would rise when commodities recovered based on being a low cost producer compared to some of their peers. I was fortunate enough to hold on to PNA and went from loss in the early days to handsome profit - one of my better decisions

Also forgot to mention in my comparison that PNA are a conventional miner with potentially more risk and much higher debt required to set up operations/infastructure etc... machinery/plant etc...)as opposed to PEN ISR operation Im assuming PEN will have a superior debt to equity ratio. Lots of relevance IMO

SOME MORE NUMBERS ON PNA
At 30 September 2010, the Company had cash of US$107.5 million, debt of US$45.0 million and undrawn debt facilities of US$40 million.

New debt facilities entered into in July 2010 totalling US$102 million will provide funding independence for the Companyfs Lao business and enable the accelerated
reduction in inter]company debt from surplus Phu Kham cash]flow.


PEN have 30+ million in bank and no debt (obviously..lol) but a facility of 100 million which they will need to set up plant...i think the numbers bantered round were around 53 milllion for PEN to set up their operations /facility etc....

Cheers MMM