Primo - good point. To clarify, I'm sure there is a tariff level which satisfies the investment criteria of both PAX and PLN, but I'm yet to be convinced that the level will be as set out in the new tariff system. In my observations of PLN's public views over the years they are very price sensitive and, IMO, will use cheap local coal whenever possible. They are not concerned with climate change mitigation and paying more for renewable energy - that is a government policy problem and not a PLN problem.
In regard to PAX i'm just wary of misplaced optimism and unrealistic timelines, from both management and some shareholders, before I hand over my cash.
PAX Price at posting:
0.4¢ Sentiment: LT Buy Disclosure: Not Held
