PNA 0.00% $1.84 panaust limited

PNA on the move

  1. 2,705 Posts.
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    Keep an eye on this one this week. The company is small, but has a 1moz gold resource in Laos which the market has yet to recognise. Oxiana was the trailblazer in Laos, and its share price ran from 2c to the current 37c on the back of its Sepon project. Oxiana's market cap is now a massive $300m, and the asset base in it is about seven times that of Pan Australian (which has a mkt cap only $5.5m). PNA isnt short of cash (has $1m in the bank) and doesnt have any problems that Oxiana doesnt have (country risk).

    The management are finally doing roadshows around the brokers to tell the story, and the share price is at last showing signs of a bit of volume. I think this one has a real chance of breaking out of its range and getting on the Oxiana bandwagon - and a lot of Oxiana shareholders must be looking at their gains and wondering how to diversify them and find the next winner. I had a look at the register and it is surprisingly good, with institutions & insiders (RCF, Bell Asset Mgmt, AMP, Leyshon, Bob Bryan) reaching 51% of the register.

    PNA has a simple story, is cheap and finally has a trigger to get it moving (drill resource reaching 1moz) - keep an eye on it!
 
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