After a couple of days of nice rises it is no surprise to see a pull back today. I think holders will get a better idea of the direction of the stock with the news flow over the winter and spring.

We do have to take into account of course the US recession. They are talking about a relatively 'minor' recession lasting 2 or 3 quartres. It really shouldn't have too much effect on a stock like PMM (it's value is so low as it is), and will have no effect over the longer term (1 - 3 years). The Canadian economy is in great shape too so the effect of a recession should be lessened over here.