pmh is cheap compare with its peers, page-21

Re the PMH doing an RHI, I think so, in fact I have no doubt. I did some back of the envelope calculations re the copper at Ann Mason when the first big ann came and it was worth (at today's prices) about $4 Australian per share - per year of operation (and it had an estimated 32 year mine life). Add the latest discoveries announced recently (prior to yesterday's drill ann)and they will give the initial estimate a 60% boost. At present, regardless of Blue Rose and anything else PMH has on the go, the Ann Mason is worth about $6.60 in revenue per year per share. This gives a pretty high PE given current share price - imagine what it could/should be. The only barriers are final JORC compliant confirmation statements (which are coming sooner rather than later I think) and then a decision to mine. Clearly, they will need someone else to help them, or provide the finance - it will cost a Billion bucks to set up, but at $6.40 per share per year return, why would you not want to go ahead. I know it is not a simple equation and there is plenty of wate to flow under the bridge yet, but they are pretty much fast tracking things. I think back to 2003/04 when PMH had pretty much nothing going for it - now look at what they have. No question in my mind, it is worth a motza - I reckon the 700c comment is conservative but, as always, the question is when? I see some movement through GIR re financing partnerships and when PMH announce something similar, then we will see some real share value coming into the picture. The copper price would have to drop below $1.25 US before the mine would loose money. Can't see this being a problem given that copper was predicted to back off in price this year and has accelerated instead. I know the American market might put some brakes on these prices but dropping back to $1.25 doesn't seem likely in the intermediate future and definitely not in the long term. I read somewhere recently that about 200m US houses have to be rewired in the next 10 years or so to upgrade them to current standards, plus most electrical and hybrid cars which are going to be coming onto the market in the next 10 years or so (and my guess is that this will be fast tracked given fuel prices and shortages and the speed of current environment problem recognition) will have about 30 times the amount of copper in them as they do now? Imagine the possibilities for PMH. I have no doubt - I am a believer.