What's with the mule whippin' ?

  1. 1.7k
    Posts

    So what is behind the dumping going on with PEM?

    IMO the merger deal was not beneficial to PEM, as many good assets were to be spun out of CBH, which would have left it carrying the Zn mine and a whole stack of IOU's.

    OK so the Zinc price is low - but this is being sold like it is about to shut up shop!

    Any thoughts on whether that will be the case?

  2. 123
    Posts

    Have no idea whats going on

    Diggers and Drillers did a great article on them.

    If I had the cash I would have jumped in !!

    I would have thought the article would have everyone scrambling to get on board.

    Pete

  3. 1.7k
    Posts

    Well, I bailed on my MLS, and rather put my cash in PEM at 47.5, even though the selling looks formidable, and there are profitability and production issues.

    Looks like someone is intentionally pressuring the SP to me??

    Personally I am glad the CBH merger is off.

    Cap ~ 94, Cash ~77, debt ~25.

    Rsv 11mt@8% Zn.

    Rsc 260koz@25gt Au.

    Rsc 15mt@1.3% Cu, 0.05% Co, 9gt Ag: Mt Oxide: 22m@6.3% Cu, 0.3% Co fr 258m, 23m@8.9% Cu fr 395m, 171m@1% Cu fr 111m.

    Rsc 1.45mt@3.2% Zn, 4% Pb, 44gt Ag: Flying Doctor.

    Rsc 70% 0.3mt@27.9% Zn: Flinders: pittable.

    NB - DYOR - my research is pretty dated on this one!

  4. 1.7k
    Posts

    More evidence the market is irrational at the moment. Certainly I don't seem to understand it as PEM gets smashed again to almost cash backing.

  5. 1.7k
    Posts

    Not alot of interest in PEM here.

    Anyway - chartists might want to look at the graph. It is fully sick!

    But seriously - very high volume (highest for many months) on a good old plummet is a potential sign of a capitulation bottom.

    There is bound to be more selling tomorrow, and there are two banks that have been selling down, but worth a ST watch list IMO.

  6. 1.7k
    Posts

    Shiver me timbers. Actually making money on PEM.

    I had forgotten what that felt like. lol.

    I am expecting a ST target of around 48c if the sellers are finished (they appear to be), but hope it keeps going, and the company keeps the steam on by releasing some news on the spectacular Mt Oxide cores.

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