Support Levels + thoughts Looks like we have a couple levels of support that should be considered...
3.44 CAD (looks to be the strongest)
2.29 CAD (weak)
1.62 (very weak)
0.70 (very weak)....then we fall off a cliff
I doubt we will get anywhere near the lowest support levels. I personally have added and just see this as an opportunity to average/build the position. I see this as a blessing, nothing has fundamentally changed, but the valuation is much lower. If you were buying at higher prices why wouldn’t you be compelled now? Especially knowing this a compression of small caps due to tax loss harvesting.
Other interesting notes:
Thursday, December 23- Marks the 60 day 3rd party validation period for EBH2. HPQ expects this to be bullish news news, and PYR should benefit meaningfully as the would be considered very material. Next week I expect a draw down to 3.30 to 3.45 range, as tax loss harvesting will continue into late December. January should make the last of tax loss harvesting and selling pressure should subside at this point. Buy while you can, at the very least average yourself down into a significantly lower cost basis. For those who bought PYR any time this year they will be down on the position making it a prime candidate to tax loss harvest from. Bulls can take advantage of this!
If you feel like your diamond hands are getting weak, maybe listen to the Q3 call again, reinvigorate your passion for the company. The small caps can only remain down for so long before people start to notice what a deal they have become.
It doesn't take much money to cause good small caps to make big upward moves.
We may have not had much bullish news lately, but we also haven't had any bad news.
No other technology is as clean, or even a threat in the iron pelletization . Are you betting against the GHG/ESG sector of the economy? It’s a matter of when, not if...this technology will be implemented imho.
Our EBITDA was majorly messed up from paper losses due to depreciation of HPQ shares, as they build their pilot plant and reach commercial scalability in 2022, that will become a big tail wind for PYR.
Even if PYR doesn't execute on iron ore pelletization in a timely fashion (1 to 2 years), we have many other large addressable markets to capitalize on. PFAS might be bigger then anyone can even imagine…
The connection to TATA steel….it would be insulting for me to mention how massive that alone could be…..
There is a 44Mish backlog, with 15M cash on the books, they don’t need to dilute shareholders.
Seems like the short positions have also increased significantly which should add lots of buying pressure once a rotation out of the large caps into the medium and small caps beings again.