Near term re-rating, page-28

I believe you’ve missed my point, quite spectacularly actually. The marginal trade establishes a price to calculate the market capitalisation of a firm. So it has something more, I suggest, than the “zero relevance” you think it does. I shouldn’t have to actually say this.

I am not going to labour point the of my observations. A small junior miner like PNR can have its share price easily manipulated by those with knowledge of the structure of market depth placing trades moments before the close to be settled in after hours reconciliation where no further bids or offers are possible.

I could do this easily myself. This type of activity is easy to see, if you look. Once you see it, it raises questions any sensible person will ask themselves especially with a junior miner that some characterise as “quietly cautious” in a world where so much is now simply beyond their control.

My experience watching the trades in PNR is that this activity is not random, It has actually been quite crudely executed by whomever or whatever is doing it in my humble opinion.

Best of luck.