Wasabibarako,
At the closing bid of £0.3475 & A$1 = £0.4710 the 7 Million PANR shares would be worth A$5.165M.
That works out at an undiluted cash NAV of 3.936 cents per share, or 3.61 cents per share diluted to cover the existing debts.
LOTM
Substantially Undervalued, O&G Situation in play, page-69
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