Uncertainty and PYRX revisited.
I think it's fair to say there is a little uncertainty so far today as reflected in the prices of most of our players. For once, PYRX is leading the pack in the upside department, which must be a relief to many shareholders after the drop at Friday's close. I am fairly heavily into 3 of the JV stocks and PYRX is one of them. But despite the expressed misgivings of some, for me personally PYR is the one I'm least worried about. While this could have something to do with me not being Canadian, I think it has more to do with the DD I did before jumping in. Anyway...
Yesterday ogod said in reference to PYRX:
"to step in here when you don t have the leverage of a tse stock marginwise, nor the transparency, nor a decent statement of sharestructure, a structure which could change in a nano second unlike tse stocks, would be unwise to say the least 4$us will buy you 1 share of bkp, no doubt which i d rather own"
Won't argue with the "marginwise" part, if you want to buy on margin, go for it, man. But as for the rest, some corrections. I just called the company to re-verify. ogod--did you check EDGAR? PYR is a fully reporting company with 10K and 10Qs on file with SEC. You'll find your "share structure" info there. Furthermore, they are pursuing, and are close to a national U.S. listing. As for sharestructure changing in a nanosecond, I seem to recall a flurry of options granted and financings sprung on investors these past several weeks in most of the TSE and VSE companies. PYR on the other hand has not done any diluting for months, and I am inclined to believe them when they say they have no plans to do so. At the moment they hold several million in cash and carried interests in the upcoming JV wells. Their stated business plan is to generate prospects and do any future financing by selling (real--not copycat "near East Lost Hills"-type) prospects for cash and carried interest as they did with this JV we're all speculating in now. That's the part that for me gives it a little extra cushion and sets it apart. There's a plan beyond the JV. Toward this end, I believe they even have a couple of these prospects ready to go soon, but do your own checking. |
