Substantially Undervalued, O&G Situation in play, page-155

bigfella64,

I have no idea how AXT are going to play this out.

For the moment at least they are going to stay with the PANR holding. JH is a director of both remember.

At some point they will look to do a deal of there own and they will have a wad of cash to do it with.

Making them a very interesting cash shell, able to do a deal that is simply too big for virtually all of the other shells out there to handle.

Currency exchange rate becomes a bigger and bigger factor the higher the price of PANR goes.

They may even get an approach from an institutional investor wanting a piece of the PANR pie. As it would take quite a lot of time and effort to buy 7 Million shares or over 3.25% of the company in the market. So someone might offer them a premium to the current market price simply to get there hands on that holding.

At the current exchange rate of A$0.478 to the £ and PANR touching £1.37 a share. That makes the holding worth A$20M.

Trading in London is heavy transaction wise with lots of retail investors wanting a piece of the action.

LOTM