Merger with PNX, page-8

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02/09/24

11:34

Post #: 75485662
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Originally posted by RooBendigo: ↑

Well this has been coming for months, so they should have some plans ready to go. I hope so.

I was a bit surprised how modest their drilling plans have been to date, given their funding. Also they have been soliciting approaches from unfunded worthy projects, but they haven't taken on any. Not saying they should, just what was that all about?

One thought: now Luke Tomkin, with a history of aggressively challenging GMD for Leonora resources, is CEO of newly merged RED (soon to be Vault), the Mertondale ore might go to King of the Hills mill, not Mt. Morgans ... i.e. there could be two bidders if the drilling shows the resource is there. Monetising Mertondale would be a good move.

I guess the first thing will be to announce a CEO ... they have been kicking that can down the road long enough, they must have a preferred candidate.

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Usually no drilling in the wet season for PNX, looks like they will try and squeeze some in beforehand.

Earliest they tend to start is April so might not see a lot of exploration activity from NT holdings until then.

Thunderball has a lot of upside already in place, just needs a little more work for JORC status and could be significant upside from deep drilling.

PTN Price at posting: 5.4¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 6.8¢		Change 0.002(2.27%)		Mkt cap ! $109.7M

Open	High	Low	Value	Volume
6.8¢	7.0¢	6.6¢	$291.8K	4.298M

Buyers (Bids)

No.	Vol.	Price($)
2	3727	6.7¢

Sellers (Offers)

Price($)	Vol.	No.
6.8¢	150000	2

View Market Depth

No.	Vol.	Price($)
2	3727	0.067
5	270793	0.066
6	360682	0.065
5	423500	0.064
2	350000	0.063

Price($)	Vol.	No.
0.068	150000	2
0.069	220000	2
0.070	1937088	7
0.071	160845	2
0.072	994077	4

Last trade - 15.11pm 16/06/2025 (20 minute delay)

PTN (ASX) Chart

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