I am sceptical about any left field good news and do not see how a takeover offer in the near term could possibly be substantial enough to deliver the monster profits that we retail holders have all been expecting with good news from the assessments. Management did nothing to protect the SP when it started to drop from mid-2cents to now low 0.017 with an intraday low of 0.014 some short time ago. The update that did come was not a management initiative, it was only given in response to ASX query - would it have made difference 7 or 10 days earlier? Perhaps, perhaps not given we were told that some of the substantial selling seems to have been forced by executors of a deceased estate liquidating a fair chunk of stock but had we had that oil on the water earlier it may have stopped at least some of the "panic" selling.
Changed sentiment to hold - still have a fair % gain given purchases some time ago at 0.002 but topping up along the way at circa 2 cents when I was still reasonably confident of some promised updates arriving that would at least maintain those levels has taken some of the gloss off that as well.
PCL Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
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