Hi Nij and Smoking I read your recent comments with interest...

Hi Nij and Smoking
I read your recent comments with interest (and frustration). As I have said before, PEX's price and buyer interest is wholly dependant on drill results/announcements. Great drill results = buying interest = buying = rising share price. Conversely, no drilling results or average drilling results = muted interest = very limited buying (or selling from weaker holders).

It really is this simple. Great results (if sustained) lead to great reported resources which lead to mines and shareholder growth. Poor results lead to a gradual destruction in shareholder value (and lower share price).

In the case of PEX, where they are now is totally understandable - they reported excellent drilling results late last year and early this year and the price skyrocketed. More recently, drilling results have not been as good and the price has languished/weakened as (i) potential buyers have held off buying pending further info/positive results and (ii) weaker holders have sold.
This is the typical pattern for exploration companies and is common knowledge for anyone who has been investing in exploration plays for any period of time.
Re your comments implying management has engineered a low price to prevent their dilution, giving major shareholders cheap shares, destroying any meaningful market in the shares, and management wanting to keep favour in their jobs, IMO all of these conspiracy theories are simply misguided. Management simply does not have that much control over the share price. It is governed primarily by drill results and Management by law cannot withhold material market info (including drill results) to suit their agenda. It just so happens that this time when they needed to raise funds the recent drill results had been average, hence lower raising price. Maybe next time they will need to raise soon after great results at a higher price.
If you don't trust management Nij and Smoking, may I suggest you sell - and Nij, before you say there is no buyers/market, may I point out that again this is not a management conspiracy, it is very common for small exploration co's (especially ones like PEX with <200 mio shares prior to this raise) to have limited liquidity - again Exploration Co Investment 101! Wait for some strong results and I guarantee the buyers will materialise from nowhere!
GLTA