A big ouch! for me today. Was convinced it was reasonable value above a dollar, and excellent value at 80 cents...then one of the biggest falls on a stock of have seen, and I tend to invest in explorers not producers. I think some might be spooked by the debt levels, assumed the worst about Castollo and underestimated the closeness and size of Silaro. AS someone else said, the market cap is close to many speccies without a hint of gas. Anyway, double my holdings at 45 cents and then 36.5 cents. Will wait until Silaro before reconsidering position. Hard to see which way it will go given the concerted selling of a large holder. With 30 million (almost 30% of issued shares) turn-over today, you'd have to expect it to end soon. I would also like to see a substantial shareholders list as the longer the turnover stays high (not just including todays) without a significant sell down, the more suspicious I wil get that this is not only be sold off but simultaneously manipulated. Also, seems like the market is assuming the absolute from Castallo. Even if flow rates were halved, its still a handy cash flow that wouldn't justify a 50% fall in the shareprice. Having said that I hope there is no more information we are not privy too (again)...for example, some debt maturing sooner rather than later. Would also love to see the directors buying.
PVE Price at posting:
37.0¢ Sentiment: LT Buy Disclosure: Held
