Good post SKUL. I'm all for keeping people honest and ensuring...

Good post SKUL.

I'm all for keeping people honest and ensuring statements have some logic, but I thought you provided that a few posts ago.

With all the guff that gets posted on here, I can't believe that someone who has a crack at providing what appears to me to be a reasonable and well thoughtout opinion gets such a hard time.

Noone knows what the future holds - so we're all guessing based on varied amounts of research and information. For the record, I agree that your guess is plausible on both the short term share price movements and a possible t/o. EQN and OZL might have the big money projects on toe, but no other mid cap on the ASX has the organic growth opportunities that PNA provides. They also have the track record of successfully bringing them on.

And without question, each time PNA has rallied, it jumps pretty quickly. Examples:
- 5/11/2009 - close 45c and jumped to 51c close on 10/11/2009
- 27/11/2009 - close 50c and jumped to 58.5c close on 3/12/2009
- 30/12/2009 - closed 55.5c and jumped to 63c close on 6/1/2010

There are plenty of other examples (I can see at least another half a dozen), but probably no need to go on. And these are current examples where PNA has had its current number of shares on issue. If you go back through the volume, I think you'll find it also corresponds to some notable increases in volume and large orders. I think the main point is, PNA has tended to lag (consolidate) and get held back when you think it should be steadily increasing, then it pops.

Again, who knows if this occasion will bring a simple pull back and consolidation or the pop, but you're right that circumstances like these could easily bring a run to 55c or beyond.