Post by
oldmilwaukee24 on Nov 02, 2022 9:25pm
Chinese Divestment
Thanks Mr. Trudeau. Free advertising! People were complaining about not getting enough eyes here, well, now you've got them. Carry on.
Comment by
frewil11 on Nov 02, 2022 9:36pm
Ya thinking of the same thing , this has to bring more attention to Power Metals , many new potential investors will look at what we have now .
Comment by
oldmilwaukee24 on Nov 02, 2022 10:28pm
Agree boss. Honestly not concerned about a sell off, and I honestly don't even know if we will get one. Will be interesting to watch the next moves the company makes.
Comment by
Buyreallow on Nov 03, 2022 11:18am
Sinomine owns over 7 million shares that will have to be sold. Likely will put some downward pressure on sp for a couple of weeks when selling starts. Weakness started today.
Comment by
trader53 on Nov 03, 2022 11:21am
I doubt these shares will ever hit the market. This block will be picked up by a fund or another Company.
Comment by
oldmilwaukee24 on Nov 03, 2022 11:47am
Most likely. It's chump change. What this does is brings eyes. Just mentioned on BNN this morning. And as per the recent comment by the company, it just shows that Case Lake could be a world class asset. Should be very interesting watching this unfold! Good luck to all.
Comment by
frewil11 on Nov 03, 2022 11:52am
Regarding the shares I thought it was more of an issue of the JV deal where Power Metals would sell its products to Sinomine and then they would ship the finished product to China , its nearly impossible from Chinese companies owning shares in Canadian companies , I might be wrong tho. .
Comment by
frewil11 on Nov 03, 2022 11:55am
Meant to say its nearly impossible for Chinese companies not owning and purchasing shares in Canadian companies.
Comment by
Buyreallow on Nov 03, 2022 12:27pm
Sinomines owns 7,500,000 PWM shares as well as an off take agreement for all the Case Lake Lithium.
Comment by
frewil11 on Nov 03, 2022 1:18pm
Yes I know , the offtake will be terminated for sure but owning shares I don't think much can be done.
Comment by
oldmilwaukee24 on Nov 03, 2022 2:08pm
Wonder how Sinomine responds...that's where the rubber hits the road in my opinion.
Comment by
timeforawinner2 on Nov 03, 2022 2:17pm
Not very happy with our governments move on this and should be grandfathered in they don't own the company and only want to process our minerals keep in North America at a discount make them only able to sell here in canada and US crazy to cut off at the Knees when we were so close!! GLTA
Comment by
Buyreallow on Nov 03, 2022 3:24pm
The government obviously things otherwise. https://www.marketwatch.com/story/power-metals-shares-fall-as-canadian-government-forces-chinese-investor-to-divest-271667490331