GREY:PGDIF - Post by User
Comment by
Durkastanon May 20, 2010 8:59am
470 Views
Post# 17116993
RE: NEWS OUT this AM
RE: NEWS OUT this AMWell, it's news, I guess... confirmation of kimberlite discovery, which is great. Unfortunately, due to weather conditions, they are putting off drilling of the newly discovered CH-17 and anomaly 165 until spring 2011.
All in all, a tease IMO. Hopefully they can get to the other lake-based anomalies before global warming beats them to the punch. Either way, there are 30 land-based anomalies that they will be investigating before the end of the summer.
As for the short-term movements of PGD... it is a small cap spec play. When fear shakes the markets, people at the margin begin pulling their money out of equities that they perceive as being the riskiest. PGD is risky - as long as fear is pervasive, people are going to have an itchy trigger finger on the 'sell' button, and I wouldn't be surprised to see this back down to 1.50. (I'm not bashing - it's equally possible that this could be at 2.50 again in no time. Such is the nature of spec plays)
If you're overly concerned about the short-term movements of this stock, you're in the wrong place. This is a company that is going to take at least a couple of more years to prove its true value, and there is a very good chance that it will bring amazing returns... but you have to be very patient.