the promise of the press release...The 1 year stock chart of PYR tells the story. It was over-hyped.
The rise of >1200% from 50 cents was based on what ... signed contracts ? no.
All based on Client A .. then B .. then C speculation.
Talk of 1.5B contract from "A" alone....etc. talk of "over the moon", " lightning speed" mixed in with legal disclaimers and slow is smooth.
The Client B presser of an " agreed to in principle" contract -- did that have to be a press release ? No -- it was not a signed deal and it still isn't. just a quote.
The Client C presser that they don't want modeling and want to go right to contracts. Again - no contract and now they DO want modeling ...
BOTH press releases jumped the gun and resulted in a near billion dollar market cap. Peter has been over promoting every negotiation with an iron ore client.
Peter has said on Agoracom that the high market cap of PYR really helps in talks with clients as it gives the impression of stability and access to capital. Hmmm.
The risk is that the press release statements do not come true. Stock price collapses to almost 50% from peak. Trust in future statements eroded.
That is where we are now.