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PNA - PanAust Limited

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Re: PNA - Pan Australian Resources

Retraced a lot over last few weeks, can't seem to get over the resistance at 42. Hope its just a general trading thing and not indicative of anything serious given decent copper prices in last month
 
Re: PNA - Pan Australian Resources

ann out this morning regarding chinese investment in the co and a renouncable rights issue

money raised will be used to pay off debt facility and for working capital

...

has entered into a share placement agreement with GRAM, a major Chinese investment group, to raise A$180 million (approximately US$141 million).

Subject to PanAust shareholder and regulatory approvals, GRAM will subscribe for approximately 457 million fully paid ordinary shares in PanAust at an issue price of A$0.395 per share, equivalent to 19.9% of PanAust’s share capital.

PanAust also announces its intention to undertake an Equity Offer of A$142 million (approximately US$111 million) by way of a placement to institutional investors (“Institutional Placement”) and a 2 for 9 accelerated non‐renounceable pro‐rata entitlements offer (“Entitlements Offer”).

...

An Institutional Placement of 100 million shares at A$0.28 a share; and

An Entitlements Offer comprising an:

Institutional Entitlements Offer in a ratio of two New Shares for every nine existing shares held of approximately 180 million New Shares at A$0.28 per New Share to raise approximately A$50 million (US$39 million); and

Retail Entitlements Offer in a ratio of two New Shares for every nine existingshares held of approximately 229 million New Shares at A$0.28 per New Share to raise approximately A$64 million (US$50 million).

...

The GRAM investment is expected to close in late July 2009, following receipt of PanAust shareholder approval and Australian and Chinese regulatory approvals.

...

GRAM is a wholly State‐owned investment group, under the supervision of the Guangdong Provincial Government's arm of the State‐Owned Assets Supervision and Administration Commission.

...
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currently still in pre-open

cheers :)
 
Re: PNA - Pan Australian Resources

woohoo with the debt cloud lifted looking better and better, despite the dilution.
Now for commodities prices to do their thing... I wish I had more $$$ to be squeezed by another SPP .
 
Re: PNA - Pan Australian Resources

although i am happy that their future is somewhat more secure now, i still feel jipped over the massive dilution that is comming our way, there will be over 600million new shares to be issued.
 
Re: PNA - Pan Australian Resources

i bought PNA at .18 it was one of those shares that looked like it had potential, now its in a trading halt and doing the share offer, i will level with everyone, what i know about this sort of situation i could write on an aspirin with an axe, i don't expect out and out breaches of ASF guidelines , but what would others do regarding this, it wasn't till i read in one of the forums about selling SUN at market and buying it back at offer that i woke up to that one.

Thanks in advance.
 
Re: PNA - Pan Australian Resources

its two for nine so your room to move on that option (selling now and buying at SPP price) is limited on this one.

Bail now or ride it out IMO
 
Re: PNA - Pan Australian Resources

Johannlo, thanks for the reply , is their any way of dumbinbg it down just a touch, and not seeking advice but,,,,, does that mean for every 9 i buy i get 2 free , and is that a reasonable deal???
 
Re: PNA - Pan Australian Resources

darkside said:
Johannlo, thanks for the reply , is their any way of dumbinbg it down just a touch, and not seeking advice but,,,,, does that mean for every 9 i buy i get 2 free , and is that a reasonable deal???
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No, for every 9 shares you own you get the opportunity to buy 2 at the 28c issue price. What i would do on the provision that the SP holds up above the 28c issue price is sell your current holdings to the amount equivalent you can get with the offer, this will lock in some profit. Then you apply for your share of the equity offer at 28c.
 
Re: PNA - Pan Australian Resources

N1Spec said:
No, for every 9 shares you own you get the opportunity to buy 2 at the 28c issue price. What i would do on the provision that the SP holds up above the 28c issue price is sell your current holdings to the amount equivalent you can get with the offer, this will lock in some profit. Then you apply for your share of the equity offer at 28c.
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With that said, why would the Chinese buy at $0.395?
Is there more positive news coming down the pike?

With the US dollar about to hit the skids, big time, oil is
on the rise, gold is poised to make a run at $1,000 US, AGAIN!

I am perplexed as to why the Chinese would pay more than
$0.28, unless of course they will also be big buyers at $0.28?

Please advise.
 
Re: PNA - Pan Australian Resources

dervaig said:
With that said, why would the Chinese buy at $0.395?
Is there more positive news coming down the pike?

With the US dollar about to hit the skids, big time, oil is
on the rise, gold is poised to make a run at $1,000 US, AGAIN!

I am perplexed as to why the Chinese would pay more than
$0.28, unless of course they will also be big buyers at $0.28?

Please advise.
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the same reason they are paying above market for other resource stocks on the ASX.

my suggestion to you is to read the announcement, all is explained in there.
 
Re: PNA - Pan Australian Resources

N1spec , thanks for your help, sorry i couldn't get my head around what the offer meant, and yes i understand the logic behind what you have explained. Cheers.:)
 
Re: PNA - Pan Australian Resources

You just answered your own question?. gold is going up. Chinese demand for copper is only going to rise. PNA mines copper and gold in a neighboring country.
 
Re: PNA - Pan Australian Resources

pan australian out of its trading halt re the rights issue (2 for 9 @ .28)

sp currently @ .35, down approx 11%

cheers :)
 
Re: PNA - Pan Australian Resources

Hi, as a complete novice about shares, would somebody please give some advise weather it is a good or bad idea to buy the PNA offer at .28 Thank you.
 
Re: PNA - Pan Australian Resources

In a nutshell, yes

no cashflow issues since the partnership announcement which compensates for dilution

commodity prices will eventually recover and gold is a good bet in the long term IMHO

Dilution has probably been factored into market price already given its been out of trading for a few weeks and still holding firm in mid-high 30s.

disclaimer: I hold and I subscribed to my 2 for 9.
 
Re: PNA - Pan Australian Resources

gencheck said:
Hi, as a complete novice about shares, would somebody please give some advise weather it is a good or bad idea to buy the PNA offer at .28 Thank you.
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Gencheck , i too am a complete novice, chr1#t i couldn't even work out what the offer meant till it was explained to me, see my above post. But to me it looks like a good deal, i am going to have a crack at it , i bought the shares quite a while ago because i liked the company,not because of any offers or deals and was dissapointed i didn't buy more at the time now this gives me the opportunity to top up with more shares at a similar price i paid before.
 
Re: PNA - Pan Australian Resources

Thanks for the comments, it has made it easy for me to make a decision. I will take up the offer and hope for the best.
 
Re: PNA - Pan Australian Resources

Amazing volume today..... nice buy up happening here..... POC is doing it for us....

PNA 0.420 +0.030 +7.69% volume 49,234,353

Nice close at the highest of the day....very bullish IMHO....

Have a awesome weekend all :)
 
Re: PNA - Pan Australian Resources

Note substantial holder notice out too - AMP up to 5% overall, spread across a range of their funds. Would have to be a sign of confidence in the future IMO ;)
 
Re: PNA - Pan Australian Resources

trader10 said:
Amazing volume today..... nice buy up happening here..... POC is doing it for us....

PNA 0.420 +0.030 +7.69% volume 49,234,353

Nice close at the highest of the day....very bullish IMHO....

Have a awesome weekend all :)
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Trader10, forgive me, i share your enthusiasm for POC and good on them for making the share price go up, but who or what are they , sorry i'm a spud when it comes to this.
 
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