Friday, February 23, 2018 5:52:20 PM
In keeping with your thoughts expressed 2 weeks ago, we see PVG falling down steps to lower price levels, a little more this week, trying to establish a bottoming here around 6.50... oops, 6.26/6.30... and where to next,would it fall again to target 6 dollars, I think its very possible as a target. The latest peak was a retrace to 7.25 and now, in one week, we get the 1 dollar drop. PVG has made a frequent pattern of 1 dollar moves. would the next one be 6.75 to 5.75 ? in the next bounce and plunge?
I like this explanation from management ok, I'm comfortable with their explanation for what the problems were/are and how they are moving forward in 2018. It sounds ok to me, ... this is a developing mine. it takes time, and if the wall street game decides to sell shares and slam down the price based ONLY on the production numbers...then wall street is not understanding how the mine development process takes time and needs time,and theres ALOT more that goes into it than looking at simple production numbers .
The mine is developing along a plan. and the next steps are underway. they will take the better part of the year to shift into the next gear. steady state production, etc... blending grades, drilling stopes, upgrading the mill,all part of good and necessary development.
And how should one examine the giant 50% haircut in share price from the 12 dollar peak zone? isn't this 6 dollar zone a good bargain to buy? Is this a FAILING mine? Did they suffer a huge unfixable disaster?
The next positive news to come will need to be good drill results that generate the confidence youre talking about.we will see a good rally when that comes.
but this news might be a few months away. so price is being sold down to find a bottom. The 7 dollar zone had a chance to show if it would be the bottom,like it was last year. and this time it failed. now it looks like 6 will have its chance. I almost bought some today at 6.30, but my crystal ball says wait to see if it hits 6 dollars to buy. I might miss it if this holds now at 6.25.
Your final word was "Avoid". To me ,after reading the FAQ update explaining things, I agree with being cautious, but 'avoid' means to me, avoid buying too soon, avoid buying at 7, if its going to 6,and so far, that would be good advice. I did buy at 7 a while back,and at 6.50 this week. .I think PVG will move forward ok in 2018, but we will need to see good drill results in future news releases, that's what management is looking for as well. drilling more stopes, blending grades, having all that new system moving forward.to address the very issues you mentioned about reliability of progress and outlook, etc
Wall street trading is a very harsh abuser of the share price.
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