Well I checked the overnight TSX price as I do every morning and we'd gone down considerably only on lightish volume though. Then I noticed a report had come out from a place Fundamental Research something or other, which is confusing. I'm at work now, so won't be able to find the link till this evening. But basically this report downgraded PMI to a hold and they almost halved their valuation to not much more than it is now. Their explanation for it was hard to understand. They were only taking a POG of 1200, they changed their assumptions on the ability of all small miners to develop, and they also cited a decrease in reserves, even though at another stage in the report, they say the recalculations of reserves are a positive. How do you halve a valuation of a compoany without some extremely negative news?? I'll bring it up later, but I sure hope these guys weren't responsible for the TSX weakness. Hard to watch your shares go down when our market is green.
Check Google Finance page for PMI on the TSX, you'll see the report I'm talking about.
PVM Price at posting:
81.0¢ Sentiment: Buy Disclosure: Held
