Substantially Undervalued, O&G Situation in play, page-81

Sector Lead,

Nope it wasn't me. I know it wasn't much in cash or share terms, it was more the number of trades that occurred, clearly one or two people are watching it now.

Yes I too expect it to trade at a discount (until they do a large purchase of an asset or reverse takeover) always have done.

Personally I just think 0.5 cents under fully discounted NAV is where it should be trading.

Given PANR are currently £0.405 to sell (bid price in London not mid market or the offer price of £0.415), which gives a fully discounted NAV of 4.25 cents (4.57 cents undiscounted) I'd say the AXT price should be around 3.7 - 3.8 cents and its still considerably below that.

LOTM