RE: Something's Up?I noticed this as well, however there is hardly any volume (20,000) on PXP.V and the bid is set at $0.80. Looks like only a handful of board lots change hands on the buy side. Although these shares seem ridiculously cheap most U stocks are trading at their cash value with little valuation for resource potential and assets. With oil in a short term correction and funds liquidating I would anticipate further weakness over the next couple of weeks. Seems like everyone is trying to pick the bottom to enter or average down.
I have been building a position, I must admit, at a much higher level and am quite surprised how cheap the shares have gotten. The recent downturn has made me reevaluate the way I look at these companies, and luckily I haven't picked up any more over the summer and kept a little bit of powder dry. I wish I could buy more shares of all the U stocks in my portfolio and PXP.V is definitely one of them. It may seem crazy but $0.50 to $0.60 might not be out of the question. Market Cap is 29 million and company cash position is only 11 million. Could anyone venture a guess what the resource valuation would be?