Share Consolidation and Other Thoughts Personally, I dont know why PTA would even consider a share consolidation at this stage. It would only tick off the existing shareholders. There is no financial benefit to PTA to do a straight share rollback. There is no benefit to consolidate shares unless it is a company merger or acquisition with another company. I agree with Ingi, we had 0.40 to 0.70 SP on virtually the same share float back in 2011-2012 on a much riskier stock at that time. The SP could come up to these levels without a consolidation. If a merger is in the works, I believe it will be to benefit of all shareholders as the company would likely have a stronger balance sheet, better land holdings, oil production etc etc.
Shlinker it would be great if you could explain why you think a 5:1 share consolidation is likely.
While, I dont want to sound like a hyprocrite, I want to let everyone know that I have sold half of my warrant position (174,000 B Warrants) with the option of reinvesting within the next 60 days. I am looking at La Casona 2, and Ruimi 1 to be a positive catalyst. Its going to be 60+ days before we know the results. Therefore the stock and the warrants will be in a holding pattern until then. Fundamentally I think the company is very sound and the SP will improve over time. The reason why I sold is because I am 100% invested in PTA (in B Warrants). Its time to take some profits, (i have been holding these warrants since 2011) reduce portfolio risk and reinvest into other companies.
I have been looking at Yangarra Resources, ticker symbol YGR. I have been buying a position in this company because of the amount of insider buying over the last 6 months. I like the idea of buying close to what the insiders have been paying for their shares. YGR has been in a nice uptrend since April and is another penny stock. Alberta based Natural Gas Liquids Company that has been beat up with all of the other junior exploration companies. To me this is just a value play not necessarily a long term hold. I am hoping to make some profit and then possibly buy back in PTA.
I am looking forward to hearing more discussion on PTA. Have a great day everyone!