Another thing to bear in mind with junior explorers is timing of announcements. Despite continuous disclosure obligations, you'll find that some/many/most (not really sure, but certainly the ones with which I've been involved) companies like to put out positive announcements early in the week for maximum market impact; Tuesday is a particular favorite.
Now I'm not suggesting PNN is one of these companies as I honestly have no idea. However, if some good news lobbed on the doorstep the day before the NYE weekend you could argue that announcing it immediately is unlikely to have the same impact as announcing it at the beginning of the next trading week.
Connjecture, but until we have concrete news it's all we've got.
PNN Price at posting:
8.2¢ Sentiment: Buy Disclosure: Held
