Polymet Mining Corp (PLM)

[Galingale]

I think that, if you look purely at Glencore taking a controlling interest, it makes sense. Once they have that, it will be a Glencore heavy Board, including, presumably, a new Chairman. They then call the shots viz where when and how. Why would they spend money doing anything else? I am advised that they have done a deal with the SEC to enable them to take a controlling interest without censure. I guess the quid pro quo was to agree to backstop the Rights Issue (ie. take up all the unwanted shares). Apparently, and again I would think as a result of the SEC, there is not going to be a full Rights Issue prospectus; no finance, no advertising and no projections. I think that jrsh is right and the pps is being manipulated to enable an offering at around 45 cents. Stand by for 60% dilution! Beyond the Rights Issue, I would imagine that a new 43-101 will be published, pointing to a much more favorable IRR. Hopefully, that will see some recovery in the pps. I may be wrong!