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5.42%

8.8¢ pantoro limited

Near term re-rating, page-5

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Fengels

343 Posts.

67

30/07/22

18:01

Post #: 62831182
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Originally posted by kgtom: ↑

When TUL sold half their holdings (50m shares) in PNR last month, it totally changed the perceptions of the company for a couple of reasons.
Firstly the increased supply sated most purchasers. Franklin took a third of these and the rest were distributed amongst other buyers, So the buyers were sated at a decreased price .As selling begets selling, some sold on technical stop loss selling and others would have sold thinking that if TUL, who know better than most exactly what is there, and see no further value in holding, then they may as well exit also. And it's probable that TUL may have sold more of their remaining shares,
The Maloneys have a majority interest in TUL, and it's possible that they sold because they didn't want to issue new shares and dilute their holdings, and also thought disposing of their PNR shares was a better proposition than further borrowings to help fund their share of Norseman.
This, together with the falling POG was the reason for PNR's SP dramatic drop. I personally think the gold price has finished dropping and it appears selling is slowing. The shorts are negligible, less than half a million.
Bodes well to resume accumulating IMO

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Well, we shall see.

PNR Price at posting: 19.0¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 8.8¢		Change 0.005(5.42%)		Mkt cap ! $542.4M

Open	High	Low	Value	Volume
8.4¢	8.8¢	8.4¢	$342.7K	3.990M

Buyers (Bids)

No.	Vol.	Price($)
17	283790	8.7¢

Sellers (Offers)

Price($)	Vol.	No.
8.8¢	90201	4

View Market Depth

No.	Vol.	Price($)
17	283790	0.087
6	1669667	0.086
8	72002	0.085
6	24853	0.084
6	377644	0.083

Price($)	Vol.	No.
0.088	90201	4
0.089	755124	9
0.090	377602	9
0.091	555335	7
0.092	319044	4

Last trade - 15.46pm 19/06/2024 (20 minute delay)

PNR (ASX) Chart

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