PNA 0.00% $1.84 panaust limited

** institutional buyer - its official **

  1. SCD
    3,438 Posts.
    Its official...Equity Trustees Limited has increased its shareholding over the past 10 days from 5.07% to 7.36% through the purchase of approx 12.8 m shares

    They are now holders of 46,454,373 shares. Still what do they know!?!

    Perhaps the old adage "From weak hands of the small investor to strong hands of the institutional investor" bears some reflection over the holiday period.

    Diggers should be on-site in the next few weeks to commence mining operations with first pour of gold at these lovely prices still on schedule for March 2005.

    PNA has said that cash operating costs for the first 2 years is estimated at US$175-$185 per ounce. WIth gold at US$440-$450 per ounce we will see a operating income of US$265-$275 per ounce!!!
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