I had a lengthy conversation today with a friend who works at the Phu Kam site. He didnt tell me anything the market doesnt know but he did give me great reassurance (he wasnt trying to do this, it just came from talking with him and questioning him) that everything on site is going very well indeed. The plant is working exactly as planned, there are no issues with commissioning, the concentrate is being stockpiled ready for shipping and everyone on site is extremely happy with the way the project is going. If anything the project is exceeding everyones expectations as already released to the market and this is definitely set to continue. These guys on site know exactly what is happeneing and they all talk to each other at night at the bar on the site or in the canteens etc.
There is absolutely no need to correlate the recent share price drop with any problems on site. The share price decline is solely due to the market and is not in any way based on problems at site, this I can absolutely guarentee (as much as a guarentee is possible anyway).
It would seem logiical that an announcement will come soon about shipping of ore and first ore sales etc...if the share price doesnt come back to reality before that then this will be the next leg up catalyst that we are waiting for.
PNA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
