I bought PMH because they are well managed and have a good project. Though it is frustrating seeing the SP fall so much, it was not unexpected as many were holding on for the distribution and have now dumped their shares onto the market. When this has settled down there will likely be some gains to be made.
I bought PMH after research assessed the fundamentals of the copper project were rock-solid. I will continue to hold until the project has come to fruition, by which time the SP will be at least $5 (assuming either significant dilution by a factor of 3-4 to fund development of a JV with a major supplying the mine development cost and taking around 80%-85% of the copper in return). Rather than lament the low SP it would be better to be acquiring more. a fall in SP after a rights issue ex-date or SPP distribution is almost a right-of-passage for a stock and provides a great chance to profit from the stock being oversold - which will usually bounce within a few weeks back to around and often higher that previous prices.
The fundamentals remain solid no matter what the SP is. Those that wanted a quick buck are obviously disappointed.
PMH Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
