Hello again,
I have been in this stock since May, BUT I have been EMOTIONALLY attached to this stock since January, 1996. Yes, one should NOT marry a stock! Yet, even when I try to be totally unbiased, I still see this stock as undervalued.
The last I checked, on Nov. 6, 1996:
Shares being Offered:
17,000 @ $3.00
3,100 @ $3.10
5,000 @ $3.20
13,000 @ $3.25
2,800 @ $4.50
2,700 @ $5.00
Of course this has changed. I can tell you that the 17,000 shares at $3.00 had been there for weeks. The sellers were Nesbitt and Midland.
The 3,100 shares were sold by Nesbitt.
The 5,000 shares @ $3.20 were sold by Wolverton.
I will check again this week. I agree that the shares are thinning out and thus we should see a bump to $4.00. I expect another resistance at $4.00-$4.25. Hopefully, the general meeting will be positive and they will provide a positive news release to jump start this stock again.
I have tried to be totally honest without being biased (impossible since I own shares). I have tried to provide FACTS and sometimes my opinions. I honestly feel that this is a CRUCIAL point in PAW's future. They have announced 1.2 million ounce resource at Sulut with DEFINITE mineralization surrounding the resource area. They have already started to DRILL at Jambi with the shallow rig. Either the stock will continue to move north and continue to provide timely updates (positive of course): And thus analysts will come on board which we should see $6.00. OR, they will continue to not promote their stock and many investors (including myself) will be completely fed up with this and move on.
LOOK at what they have proven, look at their potential at Sulut, look at their Jambi property, look at their bank account ($5 million), look at the quality management (even though they do not promote), and you will see why I think it is undervalued. ONCE they begin to promote, we will all be very happy (unless those reading this are shorters).
Keep in touch,
David.
PS. I will be calling Brian Flower at PAW. If you have any questions please let me know so I can ask him. |
