Well he is paid to do that not get a suntan (channelling Tim Goyder)
You know the best time to raise equity capital ... when you don't need it. I'm happy the PL puts his hand into his own pocket when he raises capital. I've heard it all before and I have been expecting multiple sources of new capital. IMO every asset tends to get valued at some function of the present value of future net cash flow ... and that function takes in all aspects of risk (and there are many), including those that PAM does not control.
The potential of PAM's assets are not in question. How much of them PAM retains through to production (whenever that is) is though.
More patience required than what I thought originally.
PAM Price at posting:
12.0¢ Sentiment: None Disclosure: Held
(20min delay)