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Paramax Resources Ltd V.PXM



TSXV:PXM - Post by User

Comment by StockBadBoyon Aug 13, 2010 12:41pm
168 Views
Post# 17348798

RE: PXM

RE: PXMKel2, I agree, this hole should be low risk, but one never knows until the hole reaches depth. Hopefully we will here soon. Now if this hole is a dud, then the scramble to the exit will begin very quickly and I suspect the stock price would unfortunately and very rapidly drop to the low 30s and even perhaps below 30. The lack of buying is not a great sign, perhaps this is time to lighten up and protect the downside. But perhaps this is the time to buy more, and enjoy the upside as they hit the next 4 wells in a row. Unfortunately, the price of gas isn't helping their cause. The only thing that can help is to increase their reserves. I don't think it would take much to spook sellers at this time given we are trading below the last Private Placement, if they price was above the last PP, then everyone would be more comfortable in that it would confirm that this is starting to look like the build of a real company. Right now, this could go either way in my opinion.

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