I get the part where PMET shot to blue skies. But I dun get how...

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Kaeho

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1702

11/04/24

10:37

Post #: 73291794
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Originally posted by DB1971: ↑

I think looking at PMT with the view of hindsight we had the following: (very brief summary, but might open some thoughts for discussion)

PMT was out the blocks first – got some great drill results, and was at the height of Lithium euphoria.

WR1 was next in line, and we started getting good hits late 2022 and our share price took off.

PMT released some really big hits (122.6m @ 1.89%, 108m @ 2.44%), and this got the market excited even more, and people were talking about what an absolute monster this was – talks were about 250MT+

This made Patriot’s MRE in late July not really move the share price much, since it was already factored in.

I believe Patriot were very heavy on the stock promotion as well – which was not normal for a tier 1 Mining resource company.

See screenshot below fromnightmarketresearch.com

Meanwhile CE did the boring/unsexy route and continued drilling, working with Cree people, networking in the background, and building shareholder value (even though it was not reflected in our share price ). We got good (well great actually) drill results, but they weren't in the 100m+ range, and the fickle market didn't seem overly interested.

CE also said that the market was getting flooded with Lithium explorers from Australia, and WR! got thrown in /lost with all the others and the media hype (OM1, C1X, RB6, REC, CHK, BLZ, KNI etc)

Meanwhile Lithium prices kept falling and WR1 and PMT both companies took share price hits, but PMT was at a much higher market cap to start with.

Now the dust has settled, and interest rates are high, financing is becoming more difficult (look at LTR), I think people are now starting to view WR1 and a credible, and major force in James Bay.

And the $52m Renard Project purchase option has now catapulted Winsome to the front of the pack, well in front of Patriot to get to production, and fast tracked Winsome to be well on the way to becoming a multi-billion dollar powerhouse in Canada and on the ASX.

Anyway that's some of my thoughts on PMT vs WR1

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I get the part where PMET shot to blue skies. But I dun get how they were able retain their gains, or not fall as much as others.

Could ALB and associated brokers be protecting the stock? Too many big players entered high so they kept inflating support?

WR1 Price at posting: $1.28 Sentiment: Buy Disclosure: Held
8 Upvote

0 Great analysis

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