Even though this message is addressed to Keith, it is for every person who follows ILP. This stock is way over sold. There are investors out there that have no clue what's going on and read an article or two about Zaire, Rebels, Hutus and Zutus and decide to panic.
I've been invested in Panorama for over one and a half years. I got in at $1.35, $1.95 and then again at $4.05. If we completely discount the Zairian property, this stock is fundamentally still worth between $1.50 to $2.00. Its got great properties in Myanmar as well as Voisey Bay and the US.
If we go back to the Zaire situation, one of Panorama's Director's is a local Zairian who has close ties to Laurent Kabila (I think that's how you spell it), the Rebel leader. Panorama would like nothing more than to see Mobutu gone. Furthemore, there is a meeting of African nations happening next week which should help to calm fears.
Let's not forget that Panorama is sitting on $6 BILLION $$$ worth of minerals. When taking everything into consideration, including all the additional shares that will be needed to finance this project, they will still be making $3.50 per share. Even if we give this company a very conservative 8X Multiple, they should be worth approx. $28 a share, but most likely will trade closer to $40 a share.
Let's all stay positive and increase our holdings if this thing goes any lower.
Any comments
Chaz |
