Oops, hope you don't think I was hurling anything at you personally. I'm just an older guy who gets cranky at the hype being spread and likes to throw a dart every now and then.
Maybe it is just coincidence but if two news letters have made you $15,000 then go with them. As you state, some can provide tips about plays you might not otherwise have heard of so they play a role. On balance, my experience has been contrary and their wins no better than the law of averages. However, we hear about their wins - no mention of those that sagged or cratered. Also, there's no mention of why they were touted in the first place.
Several newsletters and analysts recommended PFN many months ago while in the .40 - .50 range. It was a reasonably safe bet with or without drill results as promotion could be expected to elevate it and did. The question now is how to rate it after their drill results? Downside risk is higher yet some value has been drill proven.
FWIW, PFN opened Thursday with substantial offerings in $2.30 range. That looked cheap to me so I bought some. My guess had been $2.50 looked about right. I'm the same guy who had a small amount but sold before drill results. No regrets because I too play the percentages. They usually are not good when it comes to drilling.
On the plus side, PFN and the Sudbury area PGM play is in it's infancy. They have a good chance of hitting even sweeter spots with higher grades at their current location. Then there are the other locations which also hold promise. It could be very good. The potential downside which we'll see later is further dilution, potential battles for control or takeover, and present grades if they don't improve. Some have said 2 gms/tonne is ore. Maybe but take a look at Greenstone GRE which analysts and newsletters loved at $10 - $15 dollars. It's now broke and halted at .14 cents. They don't talk much about that one anymore...<gggg>
Lastly, there's a few PGM prospects Mr. Dines could have added to his list. One is Muskox MSK and no, I'm not a shareholder. However, if you're looking for a layered mafic intrusive with good grab samples of PGMs, they have a beauty. It's a bit too risky for me, however. Think I'd rather trade around with PFN and their 7 good holes. PFN looks like a safer bet to me....FWIW and IMHO.
Regards,
Bob |
