Despite its image as a potential medium term uranium producer from Crocker Well (14.9mlb resource, PNN 40%), PepinNini is staking its future on major exploration projects for copper-nickel, gold, uranium and base metals in strategic ground in SA and N Qld. These projects have the potential to be primary value generators - the PNN share price suggests little value is currently placed on them.
Key investment points are:
* A diversified minerals company with a uranium, gold and base metals project focus, A$6mpa exploration budget.
* Our valuation is A$0.67/share (current price is A$0.35) - strongly leveraged to future exploration success.
* As a uranium stock (with other assets), enterprise valuation of US$1.89 per lb resource is modest.
* Crocker Well uranium project (60% Sinosteel) - 14.9mlb U3O8 resource - BFS release is imminent, possible production early 2012.
* Musgrave Province - PNN is the prime explorer in this unexplored region with the potential to contain major Proterozoic-hosted nickel-copper and base metals systems.
* Gold exploration in North Queensland is gaining pace with drilling of high grade targets expected in 1H09.
* Sinosteel to fund A$6m of base metals exploration in the Curnamona Province (PNN 40%) - 30 priority targets.
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14.5¢ |
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Mkt cap ! $13.47M |
Open | High | Low | Value | Volume |
15.0¢ | 15.0¢ | 14.0¢ | $62.58K | 433.2K |
Buyers (Bids)
No. | Vol. | Price($) |
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3 | 113299 | 14.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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14.5¢ | 14387 | 1 |
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No. | Vol. | Price($) |
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3 | 113299 | 0.140 |
4 | 313214 | 0.135 |
5 | 74407 | 0.130 |
3 | 180000 | 0.125 |
5 | 207500 | 0.120 |
Price($) | Vol. | No. |
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0.145 | 14387 | 1 |
0.150 | 65423 | 3 |
0.155 | 44331 | 3 |
0.160 | 48551 | 1 |
0.170 | 21972 | 2 |
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