news from city

todays news re PNA from CITY...pls DYOR....thx

PanAust Limited (PNA.AX) Offshore assets at a compelling price
Australia | Metals & Mining | Buy/High Risk
PNA is the only stock amongst the pure play copper stocks that is trading below our NPV and has seen its PE de-rated relative to the ASX 200 Resources index since the announcement of the RSPT, despite its relative insulation from any negative impacts. We believe these distortions will be short lived and there appears to be no shortage of positive catalysts (Phu Kham expansion, Ban Houayxai and Inca de Oro projects). PNA remains our preferred copper exposure: the risk/reward trade-off presents significant upside with strong valuation support to the downside for investors able to look through the current volatility in commodity markets. Buy (1H) maintained.