I think the sell off today had a lot to do with CUO entering into voluntary administration. Things seemed fine there and all of a sudden they were unable to raise capital or debt.
Makes for plenty of angry shareholders and a lot of nervous investors holding similar sized stocks petrified that the fate of their company might be similar.
PNA will be capped until they refinance their US$80 subordinate debt facility. I understand that discussions are underway with a likely announcement early next year.
PNA Price at posting:
13.7¢ Sentiment: Buy Disclosure: Held