I suspect that payments may not have been made on time, and it appears likely that TEG and PGY are renegotiating both the timelines and potentially the terms of the deal. TEG would understandably be raising concerns—just as I would—given that the Pilot team has a history of failing to meet deadlines. If this is the case, it’s reasonable to expect less favourable terms for Pilot. This situation could also shed light on the selling activity observed last week.
PGY Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held
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