Well done getting out early - that is what I did when AVI came out with a bad announcement last year. Meant a better price and a smaller lose. I really was very tempted to buy PRH for the merger, and feel really lucky in not doing so.
Sorry to hear about your lose, and for all those PRH holders that wanted the deal to go through.
Looking at the PRH chart does not tell you a good story - this is a chart of a company going nowhere and had a 1 for 10 consolidation last year.
Market conditions are getting worse so I do not see PRH being able to raise any more funds on reasonable terms. The best they can hope for is massive dilution to keep feeding the management and any activities they may try. Or perhaps they will sell more of their tenements off at discounted prices. They could distribute the proceeds from the sale to shareholders I suppose, and after selling all the assets simply wind up the company.
loki
PRH Price at posting:
1.4¢ Sentiment: None Disclosure: Not Held
