The share price was 4.6c when company went into a trading halt for capital raising and we soon learnt Sophisticated Investors got in early for their 3.6c shares plus including options and got out even quicker. An SPP was offered to existing shareholders on same basis but extension made and still not in the hands of ordinary shareholders. If you've applied for SPP shares they're out of the money further announcement or warming advice to keep holders comfortable. Management just don't get it or are sticking their heads in the sand. They just don't know how to PR their company in a positive manner – I don't mean ramping, just advice on their direction, planning and mining preparation updates so holders get a general idea that they know how to drive the mining business and don't leave the control of the company to low price manipulators. They have 3 potential mining products, Gold, Nickel and Lithium. Surely they can communicate more clearly on their Project ideas and certainly more so with a knowledge or some idea in the next few days of what the cash position will be all up. They get cracking with plans outlaid with definite projections on where we're going. A person with a million shares worth $46,000 now are worth around $32,000 and any shares he has on order from SPP are out of the money as well. Normally holders sell some of their current shares in the money to buy SPP shares but were unable to in general because their holdings were out of the money due to lack of proper company general PR communication during the period and the company still doesn't get it. Some holders on HC have large holdings of many millions and have been cut pretty bad. Does the company care about their rank and file share holders?
The 50 Day Moving Average is still up for 5 years (and even 1 year) and it is probably now a buy on the market as no matter what they will have cash in the bank for their planning and projection advice. It's a shame it now is a buy on market rather than a confident buy on the SPP for more holders, and that's said when I'm partially bullish with PIO.
PIO Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
