Agree that both PMH and Entree are heavily undervalued.
Entree picking up PMH's 7.1 billion pounds of copper in the ground (based on Ann Mason alone) for a measly $50M bucks is a stroke of genius. What a deal for Entree ! Surely you'd think someone would come out of the woodwork and trump them on this low-ball offer. However, time is running out for this to happen. Any other interested parties had better get their skates on, or the deal will be a "done and dusted" deal before they can get a look in.
Today's share price action suggests that the penny is starting to drop. Investors may finally be realising the tremendous bargain on offer here, and the limited time available to take advantage of it.
I'm glad I managed to top up on Friday, as I think the large gap between the current PMH share price and the current value of the Entree merger/takeover offer will now start to close fairly quickly. As Meph pointed out earlier, once the paperwork comes out and the arbitrage players get involved, it will be game on (and possibly game over !) ...
Rgds, W.
PMH Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
