Theres a lot of talk in the media about iron ore, current negotiations with the Chinese, and the continued demand and rising value of iron.
Takeovers are inevitable....but not for all companies obviously.
Where does that leave Pluton?
Is Pluton a genuine takeover target in 2010 based on the upcoming drill results throughout the year, (one would assume to be positive) and what may happen if a bigger company stepped up to the plate and decided to take the company?
Theres a bit of a stand off at the moment with buyers and sellers.
Theres no clear indicator (to me) which way we are going.
The recent share placement although necessary and indeed the right thing to do, has pulled us up a bit, so we've been going forward with our foot on the brakes so to speak.
Recent moves up to 56 cents or thereabouts were soon quelled by sellers eager to offload at healthy profits one assumes from the 40 cent placement. And as some of us suspected perhaps a little manipulation as well to keep the price down.
No apparent buying spree has followed our little 'bot friends' so at this stage perhaps there was a little bit too much read into simple profit taking?
Perhaps PLV is yet to get that 'iron ore rally'?
Thats my gut feeling here....
So much now depends on drilling and the PLV team that consistently demonstrate a proactive approach to pushing their company name 'out there'
Wonder if there are any analyst/broker reports on the way?
My thoughts on a takeover in 2010? Perhaps not...maybe a bit early.....then again ;)
PLV Price at posting:
52.0¢ Sentiment: None Disclosure: Held
