My view is the 'DFS' if it's definitive and if it's positive...

My view is the 'DFS' if it's definitive and if it's positive then it means

- the plant and production are going ahead 100% , which usually attracts larger players, till then it's a spec stock. If a large player takes a position as Superninja indicated, fluctuation tends to disappear as there's just not that much stock around to play with.

- only theoretically 1.5 years away from production, which is one of the big things with PLS, early to market, get big and then takeover others (if not taken over first).

One thing I do know if is the DFS is very good and production is starting ~2017, in a years time the SP will not be ~50 cents. Look at other similar sized mining companies in terms of expected profit and production to factor in a SP.

In that respect it makes it a medium term play.
If you want a quick buck, go for companies a 10th of the share price.

Either way, never get emotional about shares, the amount of mining/medical companies I've invested in and thought were the holy grail that never delivered, still gives me chills.

IMO