Paramax Resources Ltd V.PXM

Finally NEWS

[honeyhole0]

https://finance.yahoo.com/news/paramax-resources-ltd-announces-proposed-193700436.html

 

quick read -  take over of Mega Graphite through shares.  paramax going to change it's name... They get a couple exploration properties. seems pretty weak IMO, but I hope I'm wrong. Have a read and comment.

Honeyhole

[LWR]

I would agree. It is pretty weak.   Paramax is a clean shell with $3 million that is now going to pay out $190,000 in finders fees and double the number of shares outstanding to acquire 2 graphite exploration projects.The fact that graphite was a brief investment fad that came and went within 6 months in 2012 leads me to believe the projects have little or no value and Salida is just preying

[GMon]

I would agree somewhat, but let's give the new group a chance.  The structure is tight and the old team has deep pockets, and have influence.  Would imagine the PP will be north of 30 cents with F/T.  I'm looking for a triple from where it was trading before the halt.

[LWR]

I agree it will be very interesting to see what price they attempt to do the financing at.   If they do flow thru at 15 cents (or less) it will show they are just trying to take advantage of the existing Paramax shareholders.   If they do flow thru at 0.30 which is the supposed 'deemed transaction price' for this deal it will show they are being somewhat fair to the existing

[nanaimo16]

its a sad day to see Paramax Resources name gone....  After reading the NR I am once again really excited about yet another amazing deal ... not a done deal but a very good deal.  I wont buy shares in the new company for a bit and wait till it settles down and will be happy to convert the meager position I presently have. Exellent work.

[LWR]

it is hardly excellent news   after the rollback everyone's position is much smaller than it once was

[nanaimo16]

not everybody. I trade in and out of these stocks. No complaints here. I NEVER buy and hold a penny stock for very long, my #1 rule.  Hundreds of various penny stocks have been rolled back in the last year and this year the same thing. Maybe the stock market is dying off because so very few people make any money at all. I dont think the younger generation is participating. So many stocks seem