So far there is nothing to suggest that the results for the Sept 13 Quarter will be impacted by any adverse imposts ... hence it should be a good quarter for PSA.
On the other hand, the share price continues to be appalling and appears to be heavily discounted ...
Share Price AUD 9.4 cents x 237.7 mil shares = Market Cap = $22.3 mil compared to Cash of AUD $24.5 mil and still no apparent recognition of remaining Marathon and Main Pass production asset values.
Not to mention the added value of any large genuine exploration prospects that are proposed for development from early 2014 and beyond.
Let's hope we get some stimulus/confidence soon that will improve the pricing situation.
Cheers, PeterRG
PSA Price at posting:
9.4¢ Sentiment: Buy Disclosure: Held
