PLS 3.17% $3.05 pilbara minerals limited

Can't come soon enough; obviously one of the conditions of the...

  1. 4,795 Posts.
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    Can't come soon enough; obviously one of the conditions of the not more than 4.9% not less than $20 'is dependent on the Company obtaining all necessary authorisations for construction and operation of the Project' ie - ML

    Not less than 20million, not more than 4.9%...rough figures, but best bang for their Yuan would of been forcing the price down to that low of about 32.5c just prior to the Ann regarding...that's why it got there IMO

    The 'not less than $20m' obviously slapped the handbreak on it at that level of 32.5c, as they would have being driving percentage over the not more than 4.9% at a MC of $400m over approx 1.25b shares. If there was / is / are entities working towards saving our foreign friends some Yuan There's potentially a maximum of about $3m saving still to be made by forcing the price down towards that level again, whilst the Mining licence window is still left open..it would probably be a hard push squeezing it much more this late in the day, but squeezing , shorting and accumulation by ones mates for the rebound all have money making mechanisms.

    This period of cash saving / cash generation ends for them, once the ML is approved , as that condition is then rubber stamped at that point.

    The handbreak should be released and up we shall move once ML is approved..no doubt there will be some retail investors feeling a little deflated that they sold shares mid 30s feeding the fatcats. The Chinese are opportunists and what's in the ground at pilgangoora hasn't changed; they'd just be looking for the same product / same register (maximum) percentage, but cheaper.

    The T2's should also now be out and we also approach another DMP favourite Monday...odds are possibly favouring a green day.

    Don't let them have your shares
 
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$3.05
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$3.05 37502 3
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