If ever a chart showed a journey from being unknown to the market, to the market understanding its potential, to the market losing faith in that potential being realised.....it's this. $0.235 is about as low as she goes....perhaps until the very near term.
It's not over, or at least I don't think it is. We've all seen miners with charts like this, and it's not a bad comparison because PAR has a potentially vast asset, but it's all locked away from the market right now - just like a vast underground resource with no mine to extract it and operation in place bring it to market. Miners often need offtake partners to help them fund the mine and which provide lookthrough to future revenues and positive sentiment. PAR needs a very similar partner.
Once that box is ticked, they can go crazy. It's possible. However, it can go the other way. Miners can dilute into oblivion as cost projections mount, contruction/development/production issues confound their directors, and cash dries up and more becomes difficult to find. At a certain point is doesn't matter what's underground. If no-one genuinely trusts that it's economic to invest the huge sums required, it becomes a mothball case. There's been a little bit of gentle 'the sky is falling in' mockery of the idea that PAR might have to continue to raise at rapidly spiralling prices - but it's not like it doesn't happen. You've all seen miners with share prices of $0.0002 and it's not like they IPO'd at that price. What's under their feet might have vast potential, but getting to it might be just too costly and too fraught with potential issues that no-one can afford to take the risk even with the lure of huge treasure. Whether it's 'the asset' or 'the science', it happens and will continue to happen. Thwarted dreams are commonplace.
So, we touched 23.5c today which is more or less an historic floor. It's a >40% drop from the last CR only 6 or so months ago. What price the next one? What price the one after that? I know people don't want to believe it, but crashing below these levels is pretty much a death spiral in real time. With genuine respect to the good intelligent posters we have here, there's no amount of science or potential which trumps financial reality. They are either able to monetise the potential of this asset, and all the prima facie science of the last few years, in some meaningful form, and do this in the months ahead; or it really looks over for anyone who was an on-market buyer at any point since between Winter 2018 and the present. Personally, I think (if that's the case, and they can't get a partner) then it's over for everyone involved in PAR. If a company has a sub A$100m market cap, and can't get investors interested for what is ostensibly disruptive tech which could make multiple billions in revenue per annum in just a few years, then something is very broken.
A great deal changes everything though. It really, really does. We could go from all-time lows to all-time highs in the space of months, i'm not kidding. Everything else about this company is moot until they sign a deal. Everything hinges on that, and the window to do so before too much damage is done is closing soon. Deals are the only topic in town worth thinking about now, excuses are just excuses, they have to get it done come hell or high water.
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