Management have sold PIR shareholders short. So much for the $2 price tag they've been shopping for as reported. And so much for Messrs Middlemas & Connolly deal making prowess. In short, they've sold PIR short.
Top 20 shareholders hold 68% (Aug13 preso) since when van Eck have moved from 8 to 13%.
And it's barely a year when the last capital raising was at $1.36.
No, this is a cheap shot which deserves short shrift.
Now all we need is Randgold (4 x MC of BTO C$1.7bn - and that's after current 8% fall on TSX) to deploy their cash & new corporate facility to win over PIR SHs.
More to come from this one methinks ...
PIR Price at posting:
$1.43 Sentiment: Hold Disclosure: Held
