Opel24v, really enjoyed Tokyo and it a most interesting city and...

Opel24v, really enjoyed Tokyo and it a most interesting city and working culture. Good to see old Moneymachine woke up at 10 pm last night and posted his usual ramping post with absolutely no basis.

Yep, I predicted 4 cents be the end of next week and I think I was probably a week out. It looks like this week will see the 4 cent level tested.

Again, good advice suggests that serious selling will hit the market over the next couple of days. They were ready to hit the 4.5/4.6 cent bids but they ran away. Remember that these bids are by parties known to PRR management and once the management become aware of a large seller the bidders strategy is discussed and varied. Hence yesterday you saw the 4.5/4.6 bid go away and re-enter at 4 cents.

All these games are designed to get some share price level to enable to set a capital raising level. At the moment no one will touch PRR because it is obvious the company’s share price is not stable and likely to fall further.

What do you do if you are PRR management…

STEP 1 Call major shareholders and give them the usual rubbish story in another attempt to get them to support the stock. They have done this already.

STEP 2 Make it seem that PRR has plenty of money in the short term in order to create some stability in the company’s shares. That’s the message they are trying to send but at the end of April their quarterly report is due and this will tell a very shaky story.

STEP 3 Look to get share price stability by setting bids below market at large volumes. If the market approaches these bids then make a decision to remain in the market or exit. The bidders have exited when the going gets tough.

STEP 4 Desperately conjure a plan for funding that needs to be out in the market before the quarterly is released.

THE REASON that the share did not have a sustained run after the recent announcement is because PRR management have burnt the long term supporters of the company. By this I mean the investors that supported the rights issues by Frost et al and those that continued to support Kopp and SCE during his 14 cent rights issue. At the time big promises were made by Kopp on his plans to turn around the company and funds provided on this basis.

The investment market has a long memory and PRR management has been successful in one thing – completely alienating themselves from the investment market. Thus there was no long term position takers in PRR during the recent announcement.

Day traders have a shorter memory and outlook. They jumped on board and exited just as fast. Hence the rise and fall in PRR.

The worst job in the world is running PRR. No money, no friends and no hope..