When PCL needs to raise funds for the second drill the price will either be zero or at a minimum of several multiples of todays price. If the first drill finds nothing - price is about zero. If the first drill hits oil, then it's anyone's guess, but multiples of today's price. The share price today is basically of no importance to the share price when a capital raising is done for the second drill. It will be based on a valuation of the oil found from the first drill / shares on issue. The price now and any movements now will be basically irrelevant. IMO, the results of the first drill will determine the PCL price - nothing else.
PCL Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
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