i remember in the recent run up to 70 cents there was a lot of value traded - almost $2mill over 1 week. with no more buying really coming post the announcement in march that we will have to wait till June for approvals, some of this money is likely forcing the price down. imho the company has signaled that they will likely get the permits so i am still not a seller as i feel that it will be the company making announcement.
at a mkt cap of $25 mill with almost 4 mill in the bank and the RAD holding worth $8 mill, the value of the potash project is now a mere $13 mill!!!! I think on balance should they get these permits and come through with a JORC, that $13 mill will surely have to rise by a few multiples. I guessing the Doc is suggesting to hold as his stop loss must not be based on price, probably event driven. people can debate whether its the right strategy - i don't know a single person who runs a negative 70% stop loss!
POK Price at posting:
31.5¢ Sentiment: LT Buy Disclosure: Held
