Totally agree - Pacmag is so tightly held that small trades (often reflecting only the 'deceased estate sales' end of the market)have a big effect on price. I agree that news is coming - JORC upgrade on Ann Mason is due in August/September according to management, and will likely IMO take account of the other AM related potential expansions Cluedo notes. The real share value will come when there is some sort of sale of something valuable, and this could be in areas other than the obvious one, AM itself. Some cash at bank will then make the other projects look even more plausible in terms of being near term. The maths on AM still look fine - it is worth a motza, just need someone to recognise it and make an offer. The copper there now, before any upgrade is worth about $400 a share even if it costs them $1.50 a pound to dig it out (which would be expensive). At this rate, the $2+ valuation earlier will fade into the distance, but it is nevertheless wise to be conservative. I think the obvious parallel re price potential is the parent company GIR whose share price rose rapidly from 25c to $1.94 then dropped back majorly before surging to $2.84 before the latest retreat. All this happened in a relatively short space of time based mostly on potential rather than actual activity. Any actual activity from Pacmag should see a surge. However, it is one company, if you have followed it for as long as I have, that seems to have major trouble getting the market to come in and take a look - when it finally does generate some interest, we can expect a major impact on SP I believe. DYOR though.
PMH Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
