I know PEL has been on the nose for a while and Palermo's reputation as director has not enhanced its standing amongst punters with a memory but these things shouldn't stand in the way of making a profit if something is in the wind.
Volume in this stock has been uncharacteristically high over the past few days. Of course this may simply reflect the rising price of minerals in general or it could portend that finally, the Phillipines govt have given the go ahead for the laterite nickel project that PEL have outlined in their reports. This is an interesting project because, as I understand it, the resource is well defined and just needs to be transported to mills that have the processing capability and are available. This is apparently quite an economic proposition.
One to keep an eye on anyway...
PEL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
