Ptr has been consolidating starting from approx 16th novemeber 2012. It has strong resistance at the 3cents mark so its going to keep consolidating untill some good news is produced...perhaps when the MD works harder to progress shareholder value rather than wineing and dineing and going around the world.
Whilsts it is unfair to single out the MD...perhaps the Chairman is the appropriate person as he represents the owners interests and hired the MD.
The main asset is the Paralana project but not much has happened since 2011...coming on 2yrs but salaries are paid weekly not every 2years...
Today had an increase of 24% amd 2 large buy orders put a floor on the share price...given not many shares are traded at any given day.
Next major move will be once preparations are announced for the 2nd quarter drill. So continued consolidation is the near term future with not much being announced. Around april should see movement as some stock holders commence positioning for the Drill.
PTR Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
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