Ann: Proposed 1 for 50 Consolidation - 13 June 2017, page-42

You would hope sellers were restrained, especially at $0.05.
At that price PGY has a MC of $3.5M. Doesn't make sense given their permits are up around $40M in value.
If sellers do need any short term 'restraint', PGYDE "deferred settlement" means if you sold today you won't be paid until 26th July. ie. T+2 from 24th July.
Looking at the spread, the volume on the sell side is pretty thin below $0.10. Total volume is at 540,000 (or pre-consol adjusted is 27,000,000). That in itself tells you the tide may have turned and shareholders are waking up to the fact that PGY is a 'hold' position. Before suspension, sell volume was up around 80,000,000.