RE:Pmet 22,50$ per shareAm I a little envious. Sure Am.
Do I think that it will stay this high... no way.
It is a bubble stock in my view and not grounded in the reality of the regulatory system in Canada.
They are riding a wave of busy marketing and promotion. It will crash. That is my prediction.
I mean look at their logo and their name. They are calle Patriot Battery Metals and their logo is a shield with stars and an Eagle. FFS they are pandering to our southern neighbours in a pretty overt way.
They have some US Gold zones that nobody cares about.
They are where they are from pumping the QC lithium they supposedly have.
They WILL HIT A WALL when they get to that stage with the regulators and approval boards.
At that time, the sound of air getting sucked out of the balloon should be impressive.
They also have an office on West Hastings in Vancouver. Why all the US Regalia. It is a planned sham.
Aussies seem pretty oblivious and happy to buy anything that says Lithium it seems.
Americans are blinded by the symbolism and the PATRIOT name that goes along with it.
Flow through shares are a dangerous game to play. Been there, got screwed pretty bad when a FTS holder decided they wanted to be in charge and really only cared about the tax deduction so the share price was crushed and controlled by them. They really don't care about the company or the value of the stock. They just want the deductions and tax credits.
https://www.pdac.ca/programs-and-advocacy/access-to-capital/flow-through-shares
This quirky Canadian tax-dodge tool is lost on many (certainly retail investors in the US and Australia) who may not even see the words flow-through and may not care what they mean. They do not mean that is the price you should pay tomorrow for a share... that is for sure. It is like the appraised value for a second hand diamond ring.... impressive but pretty deceptive and meaningless.
Anyway... I think they are headed for disaster but if you know when to jump you may get to miss the impact. Not for me... at this price it would be a big mistake.