Paramax Resources Ltd V.PXM

Closing date Jan 12th

[hope2]

Not long now until we hear somthing - I wonder what management has up their sleeve once this deal closes.?.

[767pilot]

Well....it is end of business Jan 12 and I can't see any news or updates.

[hope2]

Still could be some work to do: Quote: The process has been completed with a number of proposals being received. The joint venture is now in negotiations to finalize the definitive terms and conditions of a sale. Once the terms and conditions have been agreed upon by all parties, a further public announcement will be made.

[hope2]

CEO says they are wrapping up the terms and conditions - news release soon!

[swanball]

Any guesses as to PXM share of the $$$ will be? $10M $25M $50M?

[767pilot]

I haven't spoken to management so I have no real information but if you look at the market you will see large offers stacked at 5 cents and above.   This leads me to guess they are only going to get $5 million from the sale which is roughly 4 cents a share therefore making 5 cent sales worthwhile.   Of course this large seller could be misinformed and anyone buying their shares could

[georgejungle28]

Here are the level two quotes as of this am.  Hardly a large amount of shares offerred for sale given the amount of shares outstanding. $40,850 to get us past .08. I think we will see a little higher offer than .04. Level two quotes .05- 205k .055- 200k .06- 300k .08- 20k

[767pilot]

If those are the total amounts of the order that would be correct, however, each time a big offer has been bought another reappears a few minutes later. Not exactly icebergs but I bet there is a lot more to  those offers than what you see.

[georgejungle28]

I think we might just have different opinions on what a big order is.  PXM hasn't traded over 500k shares in any one day since before xmas.  To me a few hundred thousand shares at .05 is peanuts, I hold more than that myself and I am just an ordinary Joe.  I don't think we will see anything crazy for the property, would guess 10-15 million is more likely than 5m.  But

[767pilot]

The way I define a large order is in relation to average daily volume not dollar amount.   If a stock trades a thin trader and average daily volume is 50,000 and I see individual orders for 200,000 shares they are 'big' orders.   If a stock trade regularly adn average daily volume is 2 million shares then a big order would need to be a million or more. I realize there isn't a

[nanaimo16]

In for a few today. have been trading PXM for well over 20 years now. dont know what to this about Bridge down in Hells Basement at 1c...... However me thinks whatever deal is being made could be good for Paramax. But Gas prices are in HB as well so whoever is buying may be getting a premium. M&A  now must be based on precise information. see what the next few weeks brings. cheers, N