Last two days!Very interesting last two days as PWM faced a major seller of size. Looks like a sell order in the area of 1,500,000 shares which I would think could have been a fund liquidation. Keep in mind we are coming up to year end and it is quite normal for a fund that has had a great year to sell off their losing trades and take the position off the books. This could have been a fund from 2017 or 2018 that participated in a capital raise and chose not to keep PWM on the books. These funds are often led by year end % and are all about the capital. So, for example, if the net gain on the fund was 15% they may choose to dump their losing positions to take advantage of tax losses and perhaps show a 13% gain with a clean slate for 2025. Am only guessing on where this sell order originated but the good news is the market absorbed all of it on a .03 pullback.
The news release this week was the best one I have seen all year. Had this been a rock chip sample I would not have been that excited but since it was a soil sample it is much more relevant. The soil samples were taken from a depth of one centimeter, and it is obvious from the results that the LCT concentrations in one centimeter of soil were leached from an LCT source beneath the surface. The Mag survey also returned a mirrored signature of the known deposit at West Joe.
I am certain that PWM is very anxious to drill these anomalies as the discovery of another LCT deposit will strongly support Dr. Julie's geological belief that Case Lake could produce a district scale resource with multiple deposits across its 90 square kilometers. As I have said before this by itself would be the path to life changing returns. Only time and further exploration will tell.