Replies to post #11885 on Polymet Mining Corp (PLM)

[Galingale]

In most cases, the pps rises in anticipation of a Rights offering, with shareholders buying in to profit from the Offer downstream. The downward slope comes with dilution from the Rights Issue. Not sure about your latter comment. Your Rights will be allocated against your holding at the start of the Issue. If it were not thus, shareholders could buy and sell as you suggest, guaranteeing a profit. In this case, Glencore has done a deal with the SEC to secure a controlling interest. Included in that is the stricture of no advertising and no full prospectus. Without them, however, prospective investors are less likely to buy in, thereby allowing Glencore to gobble up the shares for very little!