It was 'unfortunate' that the BFS was delayed until early next year, however it does give our newly appointed joint broker Liberum time to "present the Company to the capital market as a highly attractive sustainable investment." Maybe, the delay was orchestrated to incorporate the Wood Study etc and/or buy time for the aforementioned 'potential' investors to accumulate stock. The BFS update really was a nothing announcement. Cause and effect at play perhaps?
Is it possible that SI Capital, Mirabaud Securities and Liberum would like to see the number of ASX quoted shares reduced so that more stock is available to their UK based investors? Hard to build a position in an illiquid stock without driving the price up.
I think it's likely we'll continue to see the likes of Pershing apply downward pressure on the share price by offloading stock (albeit at a massive profit) until other vested interests have had their fill.
It's just a game!
We can ruminate and postulate over fundamentals all we like, but unfortunately brokerage firms have far more control over a company's share price than the company itself regardless of how sound the fundamentals are. This goes for any stock, not just PM8.
It's like war. The sooner you accept your own death, the sooner you begin to perform like a soldier. In other words, the sooner we accept that brokers are in control, the sooner we can begin thinking with a clear mind.
Undoubtedly, there will be more pain over the next couple of months and people will question, query and scratch their heads as to why the SP is going south ... personally, I will stay the course and buy as many PM8 shares as I can in anticipation of massive bull run through the latter half of 2021 and beyond.
BTW, can anyone confirm where the Angolan SWF hold their shares? LSE or ASX?
