Kirkland Lake could hold 30%, at present the present Top Two shareholders own only 19.12%. A block of 30% is tremendous leverage.
As mentioned, PNX is just an "Ad hoc" exploration arm of Kirkland Lake. Hence their share price is so stagnant, with little upside (outside of a good old pump and dumb), until they sort out the commercial terms.
Gold, silver, zinc, copper, lead !, page-19
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