At least three hedge funds increased their shorting positions again yesterday. I suspect we’ll see a continued drop. It’s if/when they start reducing which may indicate the right time to jump in. Still risky if their ultimate aim is to sink the ship.
Every day someone has posted on the lines that “this is the bottom”. The bottom is when the shorts decide to end their onslaught, when holders stop selling and when demand for buying shares grows dramatically and consistently exceeds the sells. Doesn’t look like PFC are at that point yet. I’m astonished that a company with a multi billion market cap not all that long ago can be battered down to where it is now.
Bensrump, I disagree that the MRE won’t add to the share price. The anticipation of its arrival is what is driving the share price now. Clearly a big investor getting in early for the inevitable re-rate. Once the news comes out I believe we should expect a continued sp appreciation. There’s a strong chance of 15p+ by Christmas imo. And if Scally hits, then it’s anyone’s guess. Anyway, we shall see. Just a hunch, like everyone else’s. Atb.
A winding up Ip petition is one of the most effective ways for a creditor to seek its debtor to pay, if they believe it is an indisputable “black and white” case. Of course EUA will pay up (possibly a lower negotiated sum) and the whole thing will go away. Nothing to worry about here.
Peterson South is an EIGHT year AUD$ 22m year farm in agreement. We’ve spent 5% of the budget and come up with some promising results. Lots more to come. Rome wasn’t built in a day.
Stage 1 Farm-In: Greatland is entitled to earn a 51% joint venture interest in the Paterson South Project by incurring at least A$7.1 million of exploration expenditure and completing 7,500 metres of drilling within four years; and
- Stage 2 Farm-In: Greatland is entitled to earn an additional 24% joint venture interest in the Paterson South Project (cumulative joint venture interest of 75%) by spending at least an additional A$14 million of exploration expenditure and completing a further 17,000 metres of drilling within three years of completing the Stage 1 Farm-In.
Another extremely smart move by Shaun. Another 50m available and a postponement of the ASX listing to maximise outcome. I’m very happy with this. A listing this year, without the NEM/NCM merger resolved would not have given us the outcome we wanted. Onwards and upwards.