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Deliverator

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Re: Buying Op

in response to Re: Buying Op by Deliverator

posted on Oct 02, 08 05:05PM

Given the absolute rout this stock has been delivered in recent months, some of you might find that a bit odd, but facts are facts.

The Net Present Value of PTM's share of Project 1 only, amounts to US$730M at a 5% discount rate, and Platinum at $1,295/oz. I extrapolate it to be ~$570M at today's closing Pt price, which is so oversold as to be ludicrous.

At <US$1,000, fully 60% world's Pt producers are operating at a loss. Clearly, that cannot continue. What is Project 1's break even Pt price? US$566. This is an exceedingly rich and shallow deposit they are sitting on.

At today's closing price of $1.39, PTM's market cap is ~US$89M. Compare that to an NPV ranging from US$570M - US$730M, or $8.57 - $11 / share.

PTM is indeed 'on sale'.