RE:Doc Jones bullish on Petrus Many thanks @LowMoor a good synopsis & one very soundly based.
Long story short: I've made money with Don Gray and Peyto from their very early days over twenty years ago.
I have been a shareholder there again now owning a whole bunch at ~$4.20 a share.
IMO, Doc Jones' takeaway points are also relevant to PEY also.
Fast fwd to 3 or 4 years ago, I heard that Don was buying into a small gassy junior called PRQ.
So I started buying too. Opening positions above $2 and then more & more op to $3. Then the macro showed up and the downward spiral for the whole industry commenced.
I bought more a few times along the way, most notably a whole chunk at 9c/share for one of my non-taxable accounts.
When the Gray clan announced their own plans last summer to fix PRQ with a recapitalizatio at 30c/share, I thought if it's good for them, then it's good for me. So I bought more.
Then last fall I bought my last slug at 78c.
All of this to say Doc is right IMO - I've been positioning for this outcome for some time. I'm a Mining Engineer and fully understand and work in a very cyclical space. I know what happens when tides turn.
To see it now is extremely gratifying.
NB: after the "nuclear winter" that commenced following the sad and unfortunate Fukushima disaster, I've been positioning into Aussie Uranium juniors for many YEARS now.
And the x multiple returns I've captured since, too, are equally as gratefying...
Cheers & good luck.