Nothing but blatant downramping on your behalf.1. "They initiate...

Nothing but blatant downramping on your behalf.

1. "They initiate a share buy back - when they can not afford to and do not."

PAN has always had a healthy balance sheet and it has plenty of spare cash to conduct a share buy back. However it has no obligation to do so merely because it has expressed its intention.

I for one am much happier to see the money go towards making resource acquisitions or towards capital costs for its up and coming gold project.

2. "The 79 million dollars question. Show me the money.

I can only see 39 million. The rest is accounting jargon.."

The $79m is made up of cash, term deposits and current receivables, as clearly stated on page 2.

If you think "term deposits" and "current receivables" are nothing more than accounting jargon, I think you should stay away from the stock market. These items are widely recognised as highly liquid assets. They are receivable as CASH within 12 months after the reporting date.

Please brush up on your financial reporting analysis skills to avoid fabricating conspiracy theories.

3. "They come up with this lame excuse of why the share price is falling."

Certain funds will no longer invest in PAN once it drops out of the ASX 200. Although this does not affect PAN's fundental value, it could have caused downward pressure on PAN's price.

4. "They go on a spending spree, on non earning assets or liabilities ( depends which way you look at it)"

Care to identify these assets or liabilities?