At current price 15c PLA still way way undervalue that not even cover the asset values. The pass few days price and volumn rise are just a reaction to one small positive step on the right direction toward meeting the market expectation, which the market has alway expected from this company since the project began, namely meeting the production target to produce positive cash flow.
It will be silly to suggest a take over at this level of share price and expect to be successed. Remember that most of the big main share holders bought into this stock at much higher price $1+ and they didn't off load their holding even when the BOA shorted the stock off the face of the earth (even BOA themselve increased their share holding while they shorting it). I beleive many long term holders also bought in at much higher and I don't beleive they would agree to any takeover at this rubbish level of share price if they are still holding this long.
For any take over to be success, the predator will have to pay a fair value take into account of existing asset value at market price and resource level + investments has already spent on existing projects + % of expect future incomes. The fact that share price is low doesn't mean the company asset's value goes down too.
Speculation of take over are definitely driven by those short term traders who bought in at dirt cheap and now want to make a quick buck out of share price readjustment on a positive progress toward meeting market expectation.
The volumn rise can be seen as some of former holders who bought in at high and were forced to sell low due to stop lost etc or just want to take a break and waiting for the recovering trend to buy back their holding.
PLA Price at posting:
14.5¢ Sentiment: None Disclosure: Not Held
