Bob, you wrote: "I am hoping the PYR action is the result of some action on another one of their properties."
You can hope, but dollars to donuts it's the simplest explanation (remember Occam's Razor?) and just what I said--institutional buying which is not driven by any leaked information. To re-iterate, anyone who's spent any time talking to these guys over the years knows they play it straight and do not selectively release info (unlike many Canadian companies who don't have the SEC looking over their shoulder). And also, after everyone's (me included) complaints about their "too honest" news releases, would doing something under the table fit the pattern?
The point of my posting the links earlier was to show that surprisingly, for a $2 stock, there are a lot of funds etc. that own shares of PYR and have held on through the crash. When the next reporting is available, I think we'll see another name or two on the list. It would suggest somebody has confidence.
As of last week, when the buying started, they hadn't lined up any partners, and I doubt they've inked a deal since. They two properties they intend to drill are Bulldog and a property in Wyoming, and I expect this should happen this spring and early summer. Shallower wells than the current ones, too. But of course nothing is set in cement, like drill string is, eh? As for partners, it's quite possible that they will be able to sell smaller pieces of these projects closer to the spud date. I seem to recall another project that was divvied up by the slice. Something called ELH?
Anybody hear anything more, or different from this? |
