ASXO, your not wrong, they do it in much more detail.
Unfortunately to some or a lot of people it is difficult to interpret and considering they have open positions in the company some people may also see that as a conflict of interest. Otherwise it's a wonder we aren't trading at Hartley's target price of 15c? right?
Same conflict of interest that I would have, however I used their figures and then applied multiple bearish scenarios in a way which people may have found easier to interpret i.e. long term contract price of $50/lb which are currently $65 and projected to be around $80, recoverable resources of their current total proven recoverable resources 5.9mlbs and at 19mlb instead of their full potential recoverable resources of 41mlbs with an expectation above 30mlbs
And I absolutely agree ASXO, how could my valuations be correct and valid? I'm using third-party (Hartley and RCR) estimate figures, which makes it speculative at best.
If you would like to, or could, legitimately disprove my valuations based on the figures I have used, then I invite you to do so.
I will re-quote myself though:
"What are the thoughts on the calculations? chances are I've stuffed something up somewhere." and "in my opinion and based on those calculations"
So I will reiterate, with a 3.8 cps net asset value, 1.2 cps of which is cash and strong feasibility potential of the Lance project, with a 50% stake in a gold mine, a promising looking south african project and tennemants in WA, In my opinion I would say that a) I am comfortable with my investment and b) In this market I see this as a logical price floor with serious upside potential and limited long-term risk unless there is a fundamental change within the company or the sector
p.s. - spot on Baussie, i've only had to say that a few times now
PEN Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
