Post by
ScarletSpider on Mar 15, 2022 10:59am
Looks Like A Private Placement May Be Coming.
although the company has stated it is well funded for the first phase of feasibility for the palladium mine in Sudbury. There are too many straw shares sitting at .12 to .125 and while people don't like dilution it may be a pp is coming. The thing that i was quite fascinated by was that Eric opted to let his warrants expire so instead of having 34 percent of the company shares at around 25 percent. Now I was thinking it would cut two ways either beneficial or not. But the prices are quite low here anyways plus I don't see why Eric would want to devalue his shares although if buying in a lower placement his costs would come down as well so there were competing thoughts but I went for the benefit of the doubt positive view.
I have been following this company since .09 to .10 like the set up in how management is looking to handle the properties which first drew me than reading backed by Eric Sprott a billionaire. Bought a small position today i may take an initial hit but with the prices not moving too many being stuffed up to press it down not surprising most stocks are getting pushed down I still wonder if what my instincts is telling me about the pp the company will need to have more cash on hand i would think to go beyond the covered first phase feasibility and maybe actually working on that. my guess is a raise between .11 and .12 I could be wrong but his should have moved otherwise high of .135 and a half if I am not mistaken excellent volume definitely something pushing this down and keeping it from moving.
Anyways I am happy with what i hold look forward to seeing where things go looking for a buck plus in time possibly this year depending on what the mines show and who deals get done but there are always time needed for the drilling and then assaying samples so far the palladium looks quite promising so that should push the shares up on further evaluation. Best to put this in the drawer and let it do its thing.
This was the one stock that I was actually the least bit interested in from .05-.12 plus I seem to like what I see here now.