RE: RE: Production You are oversimplifiying things. Reserves, debt, cash and exploration upside all play a role in valuation. To answer your question, PTA should be producing approx 1800-1900 boed once LM3 is online. PMD as I recall was guiding towards 4500 boed for 2012.
Simple way to look at all this is risked NAV. It values the Company based on reserves, exploration upside, debt/cash etc. Junior companies such as these don't usually have a cash flow component in their valuation yet. As the boed increases, analysts start to do a blend of NAV and P/CF.
PMD risked NAV was in the $2.20 range on average when it was taken out for $1.60, a discount of almost 30%. PTA current risked NAV after LM3 is probably 0.26-.27 I would guess. Applying the same 30% discount results in about 0.19 take out on in the current environment. Given the upcoming catalysts, I doubt shareholders would be too keen on such an offer...but there are still a ton of sellers out there who would leap to get out for around 0.20.
PMD shareholders got a raw deal. But that is the environment we are in. They also had a working capital deficit, which necessitated they buyout somewhat.