mate, I rarely wade into these things but the "downrampers" here...

mate, I rarely wade into these things but the "downrampers" here are just trying to help PMT holders make a better return (or possible avoid losing money) by rotating into WR1, which has much greater upside / a more favourable risk-reward. The hype phase for PMT is over, now things will start to get trickier as permitting and capex take center stage. Imo that recently-released document is going to cause more than a few holders to exit once it has been properly digested.

Did any of you download and study the prelim environmental planning document from Nov 2023 that @Helios11 uncovered? If not, do it now. The plan to mine CV5 is in there, although alarmingly much of the important info has been held back from investors, who will have to wait for the PEA to find out what mgmt knew and told the govt last year.

Their aim is to build a 18m high x 600m wide dam by year 6 and only then start to mine the high-grade underwater zone, I would say optimistically from 2036. (Probably later as "expect delays" is the rule with complex permitting.) Prior to this they can mine 11 years of lower-grade deposit in phase 1 and 2. Phase 2 (starting in year 2) also requires a dam, albeit a smaller one (5m high x 100m long.)

Consider PMT's existing valuation, the likely 1.3-1.5bn USD capex (the big dam + non-plant infrastructure isn't going to be cheap), the timeframe to production and risk of delays, and the upside compared to WR1 with its more modest valuation, probable 2027 production, low capex, and with a high-grade starter zone at surface. WR1 are entering their hype phase now, and it's looking like the proverbial tortoise to PMT's hare.

Yes PMT has a lot going for it, but imo primarily as an acquisition target, and not any time soon, but in many, many years once permitting has been derisked.

Don't fall in love with your investments! Take the easy plays.