After years of such great fin discipline and great deal with PNR and 20m shares etc etc that right at the pointy end, the PNR shares are sold not at a great price and now a big CR with still cash in bank and a gold pour all be it late.
it really smells of something untold here that such "panic" compared to their history does not sit well - of course they are all spending a lot of money to get this norseman project up - but again the late rush suggests things were not budgetted or left field things are happening that were not planned for.
you could say the months delay really spooked them and they all said we need a cushion - again fair enough - but again it suggests the group as a whole did not allow for hiccups well enough - if they come back once more to the markets since they are now producing it will be a final sign they are in over their heads.
there has been always some disgruntled posters on PNR about their halls creek operation never really coming up to scratch - so i now watch for any more bad news especially in next few ann that would suggest this extra dollars were to cover for it plus some extra for the next hiccup - too many of them and i am out after i have been accum for 12 months - the $1 target looking like a joke now - 50c more like it
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