Yeah and candian listing barely moved, which was open when this...

Yeah and candian listing barely moved, which was open when this report was released.

The report has 3 main claims.

1. Pmt uses promoters
2. Pmt MRE could be lower than market expects
3. Permitting will be difficult


My response to the 3 claim above i could sum up with three words "No $h1# sherlock"

1. Of course they do, every juniour does. Other then the obvious exploration activities one of the main jobs of a management team is to create public awareness of your operation. Junior's live and die on their ability to raise capital. Every car manafacturer, financial institution, battery producer and lithium producer should be made aware of PMT. There is a reason Blair has been on the media circuit giving interviews. This project will need capital. Being a good capital raiser is one of the most important skills you can have to run a start up.

2. I'd be surpidsed if anyone wasn't aware of this risk already. Until the MRE comes out we all throwing darts at the estimates. Could be smaller then consensus or bigger. That seems fairly obvious.

Im not aware of them delaying the MRE by 12 months, or even to late July. All Blair said was a "few weeks" a few weeks ago. In the mean time we have had more drilling results and evidence that we can potentially produce 6% with lower processing capacity then peers. Unfortunately this came out while they were preparing their report and putting their short on.

3. Permitting could be difficult, yes we all know that. One of the risks.

I don't see any smoking gun in this report. Which is probably why their previous reports have failed. Typically to have a successful short report you need to a few ingredients.

1. Evidence of corporate fraud (I see none)
2. Product or service that has an economic benefit that has been exaggerated or can be proven not to be profitable or economic (no evidence of this)
3. Strong retail share holder base (we have this, but institutional holders funded the last raise at 90% above the vwap $1.27)

I understand that lithium is a hype sector with strong retail interest, but as soon as the MRE is out this report is basically shot. And they will need to cover with pretty thin liquidity.