THE PERFECT STORM Looks like most of PNP's sectorial investments are hitting the sweet spot. Precious metals, technology, uranium and lithium. Will be good to not only get an update on the asset value but the current holdings.
There will be a significnt increase in asset value Feb 15 - for sure north of a dollar. Once the portfolio starts growing consistantly and they start booking profits again we should trade at premium, not discount to net asset value.
As at December 31, 2013, the fair value of the Company's total investments was $134 million, as compared to $270 million as at December 31, 2012. The composition of Pinetree's investment portfolio by sector as at December 31, 2013 and 2012 is outlined in the following table:
----------------------------------------------------------------------- ---- December 31, 2013 December 31, 2012 ------------------------------------- % of % of Sector ($'000) Total ($'000) Total --------------------------------------------------------------------------- Resources: Precious metals 52,802 39.5 145,169 53.7 Oil and gas 16,647 12.4 30,433 11.2 Base metals 14,103 10.5 31,075 11.5 Uranium 11,909 8.9 18,875 7.0 Potash, lithium and rare earths 12,299 9.2 27,739 10.3 Coal 595 0.4 2,140 0.8 ------------------------------------- Total resources 108,355 80.9 255,431 94.5 ------------------------------------- Technology and other 25,610 19.1 14,749 5.5 ------------------------------------- Total investments 133,965 100.0 270,180 100.0 ---------------------------------------------------------------------------
Net asset value per share ("NAV") was $0.65 as at December 31, 2013
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