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lol glad someone is...
Anyone cautiously optimistic? Its hard after all the kicks to the balls but the chart is looking nice...
Life is good for ol Cherry.
There has been sustained buying over the past week-the dump hasn't really materialized. I mean this current price isn't much to write home about but still....cautiously optimistic.
I think most are banking on 120 days-so sometime in Feb or March?
My guess is it's a pump on rumors of a SC decision and China's rare earth policies. We will see I guess.
Man it’s a shame what has happened to this board. I guess everyone just knows the drill....
I wasn't aware PLM owned any other mines?
Whats funny is musk is begging for environmentally friendly mining but the wack jobs won't let anyone have it. They are a bizarre, backward lot.
lol that would be pretty cool if you were even half right. This board is waking up a little bit....
https://www.startribune.com/legal-dividing-line-hardens-on-the-minnesota-supreme-court/571621162/
Interesting article on the hard left leaning MN Supreme Court. Need not just one but two leftist judges to swing....
True but its the only potential "good" news that can happen. I still think there is a fair chance that if the SC rules against PLM that big Glen will go back to the drawing board and go for the bigger permitted plant.
Time it to happen if supreme court reverses appeals decision?
Well someone wanted in this AM.....nice volume at open.
This board is like a bunch of grizzled war vets...hopefully all will be rewarded soon.
Yeah and that was a massive selling push after .60 down to .45 that it withstood. We shall see.
I'd just be happy for some higher lows moving forward rather than the .25 stuff. Miss the days when .70 was the bottom...
Brad Moore is retiring. For him to retire and not be able to see this through to completion is troubling for the larger picture. Perhaps it speaks to Glencore's overall desires for a larger permitted mine plan?
Its at the supreme court, chuck....
I remember when price action like this would have a ton of comments...now we all know that this will be back down to a quarter probably by 1400 today...would love to be wrong tho.
1:10 reverse split on the horizon?
Polymet lost...unreal.
Completely agree.
It looks like there are almost 2 million shares blocking on the ask at .45....
So Lock was only given 650000 shares on Jan 2nd with no price indicated. This volume can't be related to that issuance. Cherry and a bunch of others actually had to let rights expire at 1.07. Shorts covering ahead of the decision?
My concern is that Glencore, being in no hurry, could force PLM to restart the environmental process because they think the processing footprint is too small.
Yes I believe that would do it!
I wonder what scenario would have to happen for this to get back to .75 again? 1.00 seems like an impossible moon shot given the outstanding shares.
The dismissals are good but unfortunately the door is left open again for new suits to be filed now that PLM actually has the permits to mine. This is why the land exchange legislation was so important...
I took a peek at the institutional investor profile of PLM today....pretty bleak as most of them sold out their positions. Not quite sure who owns the other 30% of PLM but its not institutions.
According to a certain poster all over the other boards that announcement would result in a reverse split and drop to .25.....
LOL as my Canadian friends would say "sorey."
Any commentary on this trading? Setting up for a sell off?
No chance.
There is no way I'm taking part in this one for .76. If the last offering buyers didn't sell on one of the spikes, they are right here with everyone else in the red needing to pump more $$ in to not lose their shares. I'll get diluted now, and then buy them back after the 2nd round of dilution at 2/1 @ .25 (.50) or so in a few years...if they truly intend to take this to production there is at least one more round of dilution and then a reverse split in the future? Incredible.
Forgive me for not completely understanding, but if PLM agreed to a fully backstopped offering, does that make it hostile knowing full well the high probability of them taking over 50%?
Yes-100%
PLM was never going to mine this and I'm not sure why anyone thought or thinks otherwise. Cherry's job was to get permits. It took many years longer than anticipated but he got them. Now they have debt to deal with and we'll see what happens. Much like Russian collusion this is now a done deal.
A low offering should be on the table-it was quite a bit lower in 2013 than the actual PPS if I remember right.
Bigger question is who would put up construction financing to PLM given their situation? This has to be a buyout or takeover play.
So this would be a non-hostile takeover, correct? Poly knows that Glencore could get 51%-not like its any surprise.
Consequently, there would still be a financial package drawn up to cover the assets, outstanding shares, debt, etc-correct? There are different ways this could be done-cash or purchasing company stock options?
I guess I don't think PLM is involved in some poison pill defense at this point-I'm not a true believer that they ever intended to mine this but rather to be bought out.
Honest question-
What does happen to PLM if Glencore does take over the board of directors after the newest round of dilution? Polymet still owns the land, rights, and permits, correct?
Suffice it to say Glencore doesn't need Polymet--but they still need each other because each has what the other needs?
It will be interesting to see how they frame the offering because investors are pretty damn jaded at this point.