Just thought I would post about the possible inclusion of PNR into the ASX 300 on the 19th of Sept, the inclusion announcement potentially happening on the 5th (next week).
What could it mean.... well... in a nut shell, a lot of buying, potentially a price spike, but... if you can imagine me shrugging my shoulders, I am just sharing some thoughts, nothing is guaranteed and I don't trade PNR shares (have not sold any in.... 3 years roughly).
Anyway, this article is quite revealing of the potential (the article is from the 5th of August and I only stumbled onto it today).
As I note, PNR's peer, CYL seems to have a good chance at being included, yet... PNR now has a higher market cap and of recent times, very high volumes of shares being traded (I have no idea whether this is a forgone conclusion, or a 5% chance, perhaps others on HC might know more?).
The move in POG overnight was... impressive, in fact all of last week seemed to simply push aside all the talk of an expected fall (from what I read on X anyway).
Spot price is going to be a very solid figure for PNR being 95% unhedged. With a solid quarterly, their cash build, even with all the development and drilling, will potentially enable PNR to look at undertaking a share buy back program (perhaps as early as the Dec quarter?) similar to what WGX announced during the week (no dividends yet due to the beneficial tax position PNR has currently).
As always, nothing here should be taken as investment advice, just the ramblings of a fellow HC retail investor.
Good luck to all holders.
PNR Price at posting:
$4.62 Sentiment: Hold Disclosure: Held
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