Paramax Resources Ltd V.PXM

So and equivalent target for PXM

[massEntropy]

would be $.72 ?

[StockBadBoy]

Unfortunately, I am unable to answer that question, I don't know the assumptions Mackie used in their recommendation. Bridge (BUK) has other assets and I know very little about them to know what is in play, what they are divesting, how much capital would come from those assets, etc. What little we do have to go on comes from the report from Rose filed by PXM indicating that they

[Kel2]

Byron's target for PXM is .80.

[StockBadBoy]

Do you have the details on Byron's report?  Did that include the last drilling and now the drilling they are doing. Judging by the current action, the site visit was a good move as this will tend to drive in brokers at these price levels, especially if they saw something good while they were down there.

[requiemeterna]

The last  report i came across was in late spring and target price  was set @ $ 1.20 , can' t remember by who.

[Kel2]

I think Byron is the only firm covering PXM and their target has been .80 ParamaxResources Ltd. (PXM-TSXV) UndiscoveredGas Potential in the Boise Basin      .  Strategically Located: The Boise Basin is an

[StockBadBoy]

Thanks. After reading the report, dated Aprill 22, 2010, their valuation model was based on conservative numbers at the time since they had drilled 3 wells but they were not tested yet. Therefore, they used probabilies of 80% on testing which we now know this is 100%. Also, the other prospects have been evaluated at 40% chance of success, however, since they have new reprocessed 2D seismic and

[Kel2]

As shareholders who are speculating on future success we can certainly make some of those assumptions but, that said, Mackie Research  maintained the same target of .95 on BUK.  There is no reason to think that PXM's target would have changed at this point.  However, if the next group of wells are successful on the Willow I would certainly hope to see some target prices rising