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Power Metals Corp V.PWM

Alternate Symbol(s):  PWRMF

Power Metals Corp. is a Canada-based diversified mining company. The principal business of the Company is the acquisition, exploration and evaluation of resource properties. Its exploration project includes Case Lake property. Case Lake Property is located in Steele and Case townships, 80 km east of Cochrane, NE Ontario, close to the Ontario-Quebec border. The Case Lake pegmatite swarm consists of six spodumene dykes: North, Main, South, East and Northeast Dykes on the Henry Dome and the West Joe Dyke on a new tonalite dome. The Case Lake Property is 10 km x 9.5 km in size and consists of 475 cell claims. The Case Lake pegmatite swarm occurs along a sub provincial boundary between the metasedimentary Opatica Sub province to the north and greenstone Abitibi Sub province to the south. The Company has staked the Pelletier Project consisting of approximately 337 mineral claims that account for total surface area of 7000 hectares in northeast Ontario , approximately 50 km south of Hearst .


TSXV:PWM - Post by User

Post by trader53on Aug 10, 2023 5:38pm
176 Views
Post# 35582740

Accumulation continues!

Accumulation continues! It started yesterday when 100,000 offer at .42 showed up. This panicked the retail crowd who were fearful of a pullback and I watched many many 3,000 to 9,000 share positions looking for an opportunity to get out. This morning the offer was still there but was increased to 150,000 and again many small holders panicked and cashed out. As selling was swamping the .40 to .405 level the offer increased to 200,000 along with another 100,000 behind it. The offer moved down to .41. The market was .40 to .41 with 6000 on the bid and over 200,000 on the offer. At exactly 10:17 300,000 shares were lifted and the shares traded as high as .45. What did they do next they pulled the bids and watched as more of the retail trade unloaded their positions down to .42. A very clear lesson how funds accumulate and are very aware of the fear factor that attacks so many small shareholders. The push to .45 would get every ones attention as would the weak bids that followed thus triggering more selling. The perfect picture of the patience of these institutional trading strategies.
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