This takeover news has put a complete different spin on what I though could have been the reason for the accumulation and steepish uptrend in the last few months.
Couple of ideas/conspiracies
- According to the latest investor presentation top 20 hold circa 48.8%. Could the delays from Siniomine be due to potential related parties accumulating on the hush to have a significant say/or a say altogether in the event negotiations start to begin and it ultimately leads to a proxy.
- Top 20 holder or related party accumulating large amounts of stock to acquire a higher stake to force the hand of Sinimone to pay a higher premium if it gets to that stage. This party could also have a complete different strategy with the aim of taking this to production where I think max gains are to be had.!
Who knows! Anybody have a different take on what could aspire?
Was shocked when psc opened at .044 cents the other day. I had offloaded my holding the day after we made our most recent high.. absolutely over the moon to have bought back in at a significantly less price.
Price action looking good. Resistance at .052 with .055 the next.
Cheers
PSC Price at posting:
5.1¢ Sentiment: Buy Disclosure: Held
