We were on edge a month ago..... where are we now?
Surely KP has an idea when the execution will occur given he'll be a signatory?
I can't imagine he simply gets a phone call one day saying be in Jakarta tomorrow - and bring a pen!
Likewise, if we can get news on conditional funding approval it would undoubtedly generate much market interest in this story.....ultimately it doesn't really matter which comes first - as long as they happen!
Assuming that both these things (execution of PPAs and financing) I'm of the opinion we'll see more than the 5-7c some have postulated.
After all, even at 7c, that's only a MC of circa $43m.
Peanuts when you consider that PAX's Indo projects alone are projected to generate that sort of profit margin (circa $45m) in 1 year.
I think once Mr Market sees one or two of these deals actually locked in there will be a market and concerted change in perception of this company - I think most scribes and punters still think of Panax as that company that had that 'dud' geothermal well in South Australia - much hyped but failed to deliver.....
Time to change that perception once and for all.
PAX Price at posting:
0.6¢ Sentiment: None Disclosure: Held
