This is just a look at how PTM is valued compared to some Pt producers. Remember, a positive BFS is due soon, and production should begin within 2 years:

D.AQP:

$3,660,000,000 market cap
440,000 ounces PGMs per year production
Market cap / oz of production: $8,300 per production ounce

T.ELR:

$1,8770,000,000 market cap
110,000 ounces PGMs per year (current)
230,000 ounces PGMs per year (projected)
$17,100 / ounce current production
$8,200 / ounce projected production

T.PTM:

$157,000,000 market cap
Projected attributable production from Projects 1 and 2: 150,000 ounces each = 300,000 oz
$523.33 / ounce projected production

That's just using some back-of-the-envelope techniques, but I think it does demonstrate that PTM is a screaming buy at ~$2.36/share - just ridiculously undervalued at the moment.

JMHO

D.