Market Awaiting Offtake ContractsBaron, doubt very much the price will be stagnant for much longer.
The selling pressure should slow after this week as Friday is the last day for the holders of the 50 cent warrants to exercise them, thus we will no longer have that overhang of warrants weighing us down.
IMO, the only real thing holding us down besides the warrants is the finalization of the MOU with JUST and the receipt of formal sales contracts for Olaan Ovoo coal. At present we aren't selling any coal and the market needs to see that sales are happening and how much.
The MOU is scheduled to be finalized next week, and with no further overhang from the warrants, I'll bet our share price gets a sizeable boost depending on how good the JUST deal proves to be.
As for the spin-off, that is still a 2-3 months away, and that will not have any bearing on Prophecy coal any more. Actually, none of the non-coal assets have really influenced PCY's share price to date, so thinking that the spin-off will hold the share price down, IMO is an error. GLTA