Re: $25 Million
in response to
by
posted on
May 11, 2011 08:13PM
Why such a big PP now?If one looks at all recent PP from BMO to other junior companies,they were all over at least 25 millions and much higher in some cases.Prior to the PP, a lot of investors got in solely on the assumption that the Chrome assets will be sold to CLF therefore the justification of a share price of over $2.30.PRB accepted the PP offer from BMO since the PRB-CLF deal was not happening anytime soon and the AEM royalty also stalled.PRB might have asked for a smaller amount but BMO might have insisted that they do not deal with small change.If the company believe that the Borden lake project is big enough to warrant a massive drill campaign,25 million dollars may be needed.
Why is there no stronger buying pressure?Easy.Just look at yesterday,s trading pattern at the very last few minutes.TD bought 5000 shares at 1.24 and immediately was pushed down to 1.20 by only two small trades.One for 100 shares and the other for 60 shares.This kind of crap has been going on day after day for the past few months and if anyone still insists that nothing nefarious is going on,it,s his or her problem.I have no doubt of it.