I think the German guys are long term supporters and are actually in quite a few other ASX companies. MAU is one I think. Maybe AZS is another. They have board representation, so are quite happy to see this excellent project unfold. They always seem to top up at cap raise time, and I would think they may provide some additional capital if required as they have deep pockets. Yesterday the bid was 0.9 for a while, and with the sellers starting to thin out, we only need a bit of a pick up in volume to see this break through the one cent barrier. The buyers are building up at 0.8 and only around 3M on the offer at 0.9. Bid/offer ratios are improving each day. Market cap is a meagre $32M. With production probably due to start Q1/22 I reckon they will make more than that in one year! There are heaps of stocks that have nothing like what PNX has, and years away from production valued at $100M+. This stock is completely undervalued IMO.
PNX Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
