The cheapest PGM play on the market?

[Mr_Nice]

OK. Some back ground of what I am attempting to do here. I like advfn discussion but don't as rule post there and they tend to be more UK focused so I thought I would try this forum.

 

Clearly I have looked and this company and like what I see and am having a 'speculative' punt. So my goal is not to ramp this stock but rather to understand others opinions and views. I also am interested in other people’s views on the points that i see as negative and positive as this will have a bearing on my future stock selection.

 

 

Background

 

TSX:PFN Market Cap just 13Million, Cash in the bank 3.5 Million.

Resource

 

30.5 million tonnes containing 953,900 ounces of palladium (0.97 g/t), 329,500 ounces of platinum (0.34 g/t) and 59,500 ounces of gold (0.061g/t) with an additional 2.3 million tonnes containing 67,000 ounces of palladium (0.87g/t), 23,800 ounces of platinum (0.31g/t) and 4,000 ounces of gold (0.05 g/t) of Inferred Resources using a 0.7 g/t cut off (pt/pd).

 

 

Valuation of SADAR measured resources

Palladium: 300$ Million

Platinum: 300$ Million

 

So $600 Million of resources and a net valuation of 10 Million valuing the PGMS in the ground at circa $10 per OZ

 

Stengths:

Resources in the ground.

Location of projects in both political terms and proximity to platinum majors make them a potential takeover project.

No Debt.

 

Weeknesses

 

-Management are diversifying into Nickel does this suggest lack of faith in the river valley PGM project.

-Complicated join ventures may put off of takeover approaches?

-Very poor self promotion.

( I would be interested to look at the relationship between PR campaigns and stock price in general in the juniors section. I have in the past considered this and jumped on stocks if I see a first time add on kitco and it has been successful)

[frizzers]

I hold some PFN.

 

It's all there. Except the PR.

[HollandPark]

Fr.,

PFN spends tons on IR and PR,

but is it being well-spent? The Harry Barr group has been accused of being overly promotional,

and so sometimes their stories get overlooked, like a "stale" property on the books of an EA, i suppose

 

BTW,

this thread should probably be moved to the "Quoted elsewhere" section at some stage,

assume this board gets popular enough

 

- -

 

Add the following to the First post maybe??

 

Advfn thread : http://www.advfn.com/cmn/fbb/thread.php3?id=6603163

Stockhse. BB : http://www.stockhouse.com/bullboards/forum...=PFN&table=LIST