Seems PMET ran out of punters prepared to believe the story in Canada. With millions of new shares from the end of escrow and exercise of warrants and options coming online they needed new punters. So we got the hyped ASX listing of effectively 700,000 PMET shares the company valued at 6.00 Aus a share to give the 60 cent CDI issue price. Will it be back to their valuation in the next few days?
Spending a couple of Mill of shareholders funds to attract new punters who can only buy from existing shareholders is not a good look and a reason to be ultra sceptical of anything that isn't an official ASX announcement.
112,000,000 plus CDI's up from 7,000,000 in a month is a good reason to let sellers come to you if you like the project.
PMT Price at posting:
68.5¢ Sentiment: None Disclosure: Not Held
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is not a good look and a reason to be ultra sceptical of anything that isn't an official ASX announcement.
(20min delay)