RE: RE: PHC.WTbI'm reserving judgement on their future plans until we know what they are going to do. They had operating mines this time last year and were continuing to acquire property this time last year, and then all of a sudden sold off all of it. They are now trading 12 cents/share higher than their cash with zero assets. I wouldn't be buying PHC higher than .38 cents/share right now, I'm not sure why this spike occurred really. Anyways, I sold my position into this nice spike and will wait to see what their plans are or wait until its back to .38 or below before I buy again (if it all, there are other more attractive companies out there right now with more and better news in the pipeline). I'm not sure why you would want to buy their cash for more than it is worth right now. It seems too risky without knowing much about their direction. If I am wrong then no big deal, I'll move on elsewhere but I don't think PHC is a buy at these levels. Let's say they buy a mine for 30 million - they then have to account for startup costs and it will probably be a couple of quarters before profitability comes. In the meantime they will be bleeding maintenance costs and their cash reserves will start to dwindle.
Any other opinions out there?? I much preferred PHC when it had operating coal mines. I think they should have sold the GMC and worked on the mines they had.