PTQ has bad news to get out of the way. A fair amount of this is built into the price but there is more pain to be had, at least temporarily.
The near term bad news: Q3 loss and possible delay in the PDI rollout again,
When this news comes out, I could see the price dropping to 30-35 cents on a quick dip. I would expect a fast rebound from there.
Top end right now might be 50 cents.
If POG turns around, JAL's right and all ships could be raised. Not sure where things would go.
Other bad news coming in the year: Q4 results will not be great earnings wise. it becomes very obvious that 100,000 oz target cannot be made (obvious already), no ore from Spain will be processed this calendar year. All these self proclaimed targets need to be swept aside and management needs to start with a fresh set of targets that they can meet. Maybe the truth is just too ugly though.
Of course, I have not mentioned any positive developments that will occur this year. Why, because investors don't hear those in the midst all the missed targets. Lots of potential there.
But if PTQ keeps missing and does not start making, investors will completely tune them out and we'll be destined for these levels for a long time.
JFF7
It's better to be out wishing you were in than in wishing you were out.
"Markets can remain irrational longer than you can remain solvent". - John Maynard Keynes
