Yes the TUL sale didn’t help (more the abruptness of it) but curious what angst overhang continues to exist with them as a major equity participant in Norseman, is this holding back PNR…
Inflation / rate environment has no negative impact on PNR - a marginal amount of leverage and no need for additional credit in the short to medium term. There is only fairly large incremental free cash flows on the horizon. Begs the question why the market is discounting them (heavily).
We are within weeks of first gold pour at Norseman, I’m hoping this combines with Halls Creek (costs need to be controlled) will start to re-set the valuation. Perhaps a dividend later in 2023, funds for M&A…should be a few potential triggers
Have they presented at Diggers yet?
Yes the TUL sale didn’t help (more the abruptness of it) but...
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