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The cheapest PGM play on the market?

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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.





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



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



Resources in the ground.

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

No Debt.




-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)

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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



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

assume this board gets popular enough


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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

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