PIO is only one of 16 tickers I hold ATM, so I am a bit tolerant of sharp unexpected reversals, but so many small cap explorers are sickly right now that I am sort of wondering 'what's next'
Anyway I took my second sip on Friday because I think the fundamentals are good, with the caveat that this pollucite business is probably new to most players, so rather than do a concise study, many will just turn the page to the next good thing. That's a pity but inevitable.
I worry that ASX might be watching after the 15% drop on higher volume against the trend - a go slow please explain could be embarrassing given the company would have to fess up that the market is trading in an uninformed condition. [A so called False Market]. If ASX wack a compulsory suspension on us pending full disclosure of the offtake deal for the pollucite, including premium/penalty clauses for grade delivered etc. etc. it could be tragic for our expectations.
An offtake deal, once agreed cannot be claimed to be confidential under ASX listing rules - that's my IMO anyway.
And specifically the exceptions to disclosure - below, and by looking at the whole Rules preamble the statements of interpretation.
Many may ask, does the purchaser regard the agreed price as a Trade Secret? Well does Coles regard the purchase price of loo paper as a trade secret and the manufacturer of said paper must therefor not disclose details of that revenue to the market ?? -
And 3.1A.3 appears definite, given the uproar here on these threads, and the fact that we are all most reasonable persons. IMHO.
PIO Price at posting:
1.8¢ Sentiment: Buy Disclosure: Not Held
