No movement in the SP of PNT while rest of market gets savaged, until some positive news is announced, whereupon it drops over 19%. One would almost think that finding shallow gold with what is still very much exploratory drilling, is bad news. Oh dear, we have not found a Fosterville. Was the market hoping for thousands of tonnes of Ni instead, or is it worried that the company will renew its CR efforts at any price in order to continue its drilling activity? Admittedly, we are facing a CR over the current quarter but not at desperation point yet. So, the latest results with 10m at 7.15g/t gold from 84m did not match the earlier BVE006 with 15m at 53.94g/t Au from 27m but give good encouragement as to what may continue to be found, or do people think the deposit is too patchy? While Ironstone results are not back yet, the company is not acting excited either.
PNT Price at posting:
17.0¢ Sentiment: None Disclosure: Held
