It looks like yesterdays collapse was much ado about nothing.
It did provide a good buying opportunity for those with spare change and the boat seems to be re-floating after the storm.
The result is that nothing material has changed except we now have more clarity concerning the pit. It appears that Mitchell will have to abide by the terms of the old contract as PBLS continues to mine and haul material. The wheels of justice do turn slowly. The bond PBLS posted will allow them to continue mining and is money well spent. Unfortunately for investors/gamblers, we do not know the technicalities of the lawsuit and procedure. This resulted in an over reaction to an untimely ruling.
Th believe the pit is the heart of PBLS as it is the most consistent and reliable source of revenue. This is a business that management seems to understand and they have contacts and contracts that keep the Pebbles engine pumping. I really hope there is validity to the Komex deal even if it is not as large as announced. Long term revenue is essential to a company that is wheeling and dealing and experiencing as much failure as success.
Today looks much brighter than yesterday...........
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