PGY Charting., page-38

I wouldn't read too much into it. The company issued 12M shares this week to Zero Degrees (as the nominee for 8 Rivers) as part of some consulting they did for PGY. Pretty good chance they will sell some or all as they're likely not in the business of speculating on the sharemarket and will want complete payment for services rendered last year. Yesterday we saw the largest hourly volume (11am) in many months as a large parcel was dumped. It wiped 2.7 and and 2.6 but then quickly found a floor. Was this Zero Degrees? Maybe and maybe they'll sell a few more but the reassuring part was how quickly the bids filled up after that dump.

We all know we're waiting on permit approvals which will enable an offtake/partnership deal so this does - as you say - represent a great opportunity to collect some stock that's being sold by someone with no interest in our company.

The daily chart is still fine with us hovering at the 50EMA after another test. Very healthy and it's been a pattern of this recent run. Looking at the action in mid June, we tapped the 50, tracked sideways for a few weeks before testing the level again before taking off on the next run. I think that without some news catalyst this week, we'll hover in the mid 2s as we wait on news from the company. If we see another spike in price with volume, it's prob a good sign news is right around the corner.