Hey Poker,
PTN does make for an interesting stock, as clearly the market does not see much value in what was acquired from PNX....
Yet today's results show that even just the KIN assets + cash is worth more than the current market cap.
Looking forward to seeing what they can achieve with the updated MRE (not expecting a huge increase, more just converting from inferred to M&I, which is important because when you sell them.... the ounces get a much bigger premium than inferred). Guessing the MRE will come mid/late Dec.
Most of the results are outside the current MRE. Strange but perhaps fortuitous that the Dept of Def finally allowed them to drill the area.
The scoping study is logical, especially if you are packaging it up for sale.
Sort of surprised they did not do even more RC at the other deposits at Mertondale (I mean Mert North does not yet have an MRE).
Still have Eclipse, Tonto, Quicksilver and Mert 3&4 to drill. Perhaps... after the deeper drill results come back.
Hopefully the new MD is diving into everything, pretty good time to be taking the reigns I think.
I guess brokers are not interested because there is zero chance of a capital raising. The amount of shares on sale is small too, so hard to take a position.
Hopefully that means that when interest does finally arrive, the share price will be closer to $0.10.
