Thanks Mission. Good to read plenty of brokers have target prices well in excess of the current sp. I see JBWere though are "Neutral" on PNA despite a TP one third higher!!
At the AGM certainly Stafford was frustrated by the sp but said all PNA can do is concentrate on running the business as best it can. The recent sp weakness hasn't personally harmed him too much with 2M+ shares possibly on offer at $2.77 this week. He mentioned current year profit would be up 16% - 30% this year and felt Cu would track between $3.20 and $4/lb over the next 12 months. No mention of how much the unfranked dividend would be but I estimate 4 - 6c.
With BH now producing gold this has to add to the strength of the business with a second commodity and mine and hence should make PNA more of a Buy
PNA Price at posting:
$2.87 Sentiment: LT Buy Disclosure: Held
