That's great and it looks like you are learning real quick on charting since your original post, keep it up dude.
$1.......yeah maybe a little too soon but sentiment can change very quickly. I'll mention CXO (let's see if this get's moderated as off topic? Doubt it since it's not one of your holds I dont believe) as it was dumped heavily to 94c with over 8% shorts outstanding and 5 trading days later it's up to $1.20 and will most likely head higher on Monday, so shorts will need to cover.
38 drill outstanding on PMT with 5 rigs set to go in a few weeks time. There's the eastern block of CV5 that has a couple of huge intercepts that will be released either net week or the week after - 157m & 131m and then there's CV13, so potential is there for a continuation of CV5.
Conservative low ball estimate for MRE is 100mt. KB & Blair mentioned it will be higher.
So rule of thumb is every 10mt = $150m market cap
After this round of 20,000m drilling, PMT could define a 200mt resource by the time they deliver their maiden resource in June.
This should be trading at around $1.3B cap now based on 100mt, let alone the 200mt that will most likely be announced in a few months time.
Let's see who's right. Your 60c or my $1?
PMT Price at posting:
74.0¢ Sentiment: Buy Disclosure: Held
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