Phil, personally I think, news or no news, PFG at this price is a good buy. A price drop like this is only bad if you are looking to sell, offcourse. IMO the value of a junior mining company is very rarely reflected properly in its shareprice, and right now may well be the worst of times. It has been well documented that ABX is on the war path. Them paying good money for a junior, and maybe (I am rooting for this one) a KRY being succesfull would go a long way to getting investors back in the market. When that happens I would think PFG will be one of the frontrunners. You have to think about how much of PFG's pathetic shareprice is because of the condition the market is in, and maybe in part the fact that our esteemed leader has fallen a little flat in her CTQ promotion.
I think PFG as a company holds a lot of merit, and when marketconditions improve, PFG will be right there. As it is I can't see us falling much below where we are now. Making a 3 dollar bid on monday is at best a long shot, that may just be worth it as Nesbit just kept hitting lower and lower bids on Friday. Why I don't know , but they must have a client desperate to sell, or someone trying to drive the price down. Either way, I see no reason, if they let me, not to take advantage of it.
All the best, Robert |
