I’ve always held PNR Shares since the BNR days and never really given too much consideration to owning Tulla
After today’s Announcement re the further upgrade at “Scotia” i suspect I should be backing both these “horses” each way
TUL Market Cap around $88 million
They have + $50 million in cash to fund their share of Norseman into Production
And they own 7% of Pantoro = close to $20 million
Pantoro of course have Halls Creek to produce cash in the short term but their Market Cap is over $300 million
Construction of the Plant is happening with first Production set down for the middle of next year
I wouldn’t call it a disparity, but TUL looks under valued at the above numbers, plus the Top 20 S/H’s own over 90%
Food for thought methunks
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