Power Nickel Inc PNPNF

Hard to get excited about spin off

[Margin321]

Scattered assets and holds a million in cash. Assaysthey reported not that amazing to me (I am not an expert and would be happy to be corrected).  Can't see how thay can accomplish that much. Sounds like they will focus on Golden Triangle but I cannot quite see how they will move that ahead with a million dollars. Unless they partner with someone or find some other source of capital. I think it is a bit of a distraction and I wish they had sold it for a  million dollars and just focused on Nisk, rather than tossed a million in the newco. Anyway Terry is right that this was being given no valuation in PN share price. But I don't think it will have much value sitting in a newco either. Anyway, looking for the results of the last four summer holes and a robust discussion of current model of Nisk deposit and details of the big upcoming 30,000 meter drill program which should answer lots of questions. We still do not have the CVMR feasibility study on the nickel powder project.(in Amarillo Texas of all places).  That was supposed to be rekeased end of September but was moved back to end of October to make some revisions.

[Maxmoe]

Yeah, I don't get the point of a spin-off into an unlisted company. Somehow this will expose the conspiracy theory existence of naked shorts messing with Pnpn stock??? Let's hope we can drop that topic when the result of this spinoff is absolutely nothing on that front. Let's not hope the conspiracy spreaders don't just pivot to some other far-fetched hocus pocus theory. If those

[Wheeler]

I don't think that Spinco was ever intended to unlock shareholder value, rather (I think) it is supposed to force hedge funds that hold more shorted stock than shares that are available to them to cover should they have to into a position where they have to cover in order to give the Spinco shares to the actual shareholders that they supposedly borrowed their shares from to short. I think

[Maxmoe]

That's what I'm saying.  quote from the press release....see below.  So my point is, WHEN it is evident the naked short conspiracy theories are bunk, we are left with the purpose being "to unlock value". And I'm saying that's not possible so long as the spinco shares are unlisted, non-trading, way underfunded far flung orphan properties. I may be proven

[Maxmoe]

Oh, so in theory, this is how shorty gets his shortones yanked out. Any short position, whether by the rules, or "naked" which is against the rules have the same financial obligation to make whole any dividends or distributions the shares pay out. They are called "naked" because they are shares that have been shorted , allegedly, without a borrow of shares to execute the trade.

[Wheeler]

Much better said than I could have, thanks Maxmoe 

[Margin321]

Interesting comments. Terry has been saying for quite a while that one of the purposes of the spinco is to make life messy for the naked shorts. So at the least he believees this is one possible outcome. He has also said (and the press release  repeats)  that another purpose is to increase shareholder value. So that is a goal as well, but the he spinco as it is has little value. They

[Margin321]

In any event, keep your eyes on Nisk and what they find in the upcoming giant 30,000 meter drill program, designed by high powered team and informed by summer 2024 drilling and geophysics.  So many questions to be answered. How big is Lion, are there other high grade shoots, is Lion at depth connected to Nisk main. How big is Nisk main and how does everything fit together.