Firstly, i have been logging onto HC almost every day for around 6 months but have taken until right now to build up the courage to submit my first post!
Secondly (and much more importantly)I have been a PNA holder for almost 5 years, buying at 35c and 45c in 07, 90c in 08 and 70c last year and took up the 28c offer in 2008.
I acknowledge that PNA has doubled in the past year and is significantly up from the 8c in dec 08 but is still a fair way off the levels from May 08 when the SP was >$1 despite the company not yet turning a profit.
The eureka report had a buy just before Christmas (around 84c) with a fair value of $1.10 and JBWere are also particularly bullish recently upgrading their 12month target to $1.15.
Conversely, contrasting with these favorable forecasts Commsec has a sell and huntleys has a 63c valuation.
I have read the thread: http://hotcopper.com.au/post_threadview.asp?fid=1&tid=1356494&msgno=6194412#6194412 and nothing its chart, every increase in the prices comes with pullback before increasing again.
Now, with a forecast NP of $150m for 2010E, i dont understand why the share price has not yet reached and improved on the SP pre-GFC levels?
Talk about an irrational market!
PNA Price at posting:
$4.28 Sentiment: Buy Disclosure: Held
