Despite the fundamentals and macro outlook, PMT is sold off on general profit taking. If ASX follows TSX then the close of C$13.20 equates to $1.41 which as mentioned is still a very good return for any seller who bought in the last few weeks. Question is how far it will fall, if at all? Couple of gaps in the chart suggests still some downside.
1- Has market factored in further resource drilling? Would more 100m at 1.5 excite the buyers? 2- Do retail holders have the patience to hold for 6-7 years while all permits, financing, general market wobbles, infrastructure build and mine build, weather etc
Long way to go until any cash rolls in. Maybe money is moving to near term producers… and there are a few to choose from.
PMT Price at posting:
$1.50 Sentiment: None Disclosure: Not Held
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