I don't know any more than anyone else but my strong inclination is that this is reaction to the last announcement. The Germanium discovery speaks for itself. If they have wha they think they have, then this would be the only Germanium supply mine of its type in the world. Germanium is highly prized and if they think they have enough of it (and they think they do if you read the announcement) they are going to be sitting pretty. It sells currently for about $1600 US a kg which is (with our dollar now)almost $2700 Australian per kg, having risen steadily for year after year - even in this past year. You don't need many kgs to make some good money. I don't know how much they might have or how spread out it is and given that it is a trace element, I have no real handle on how much it might be if concentrated. BUT - think about it, 1000kg is worth $2.67M on the open market - what if they have 10,000 or 100,000 kgs or 1Mkgs - the maths speaks for itself. The new interest seems to be predominantly from one big buyer who has been trying to get 200k of shares since Wednesday and has half succeeded and may now want another 1ook or so. This is probably someone new to the PMH game since all the major holders would have accummulated their fill a long time ago. Like us, the new holder will probably have to sit and wait until we see the JORC later this quarter and then what happens in terms of sales or development next year. Whatever it is, I think the future is very bright, if not a little further away than it was a few months ago due to world recession issues. PMH is very cheap IMHO DYOR.
PMH Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
