i've just picked up some PMQ shares via the MLMR rights offer...

i've just picked up some PMQ shares via the MLMR rights offer (to which i over-susbcribed big time). i don't really have enough PMQ to justify the required time for the ongoing research that i generally devote to each of my holdings.

as such, it's decision time! i either sell my modest PMQ holding now or possibly buy more PMQ to justify its existence in the portfolio ...

on the surface, PMQ seems to represent reasonable value as, from my brief research, the current market cap barely covers the current PMQ cash/stock holdings. also, i quite like the current operational stucture of their mt cannindah gold project (there's a jv agreement with drummond gold whereby drummond are required to spend $6M over 4 years to earn a 75% stake). it's always nice to spend someone-else's cash on exploration!

on the other hand, i know little of the prospectivity of the tenement or the expected timing for the release of drummond gold's drilling results. and we all know what happens to the sp of the small-cap explorer with an extended absence of news/results ...

anyone care to contribute any compelling info/reasons as to why they believe PMQ is either a buy or a sell?

k