The bid / ask spread is very very thin... the float is tight as a bulls butt in fly time!
The float is small, the few investors that are in are holding very tight to their shares.
Most of us got in sub $1.00 and some have sold a few, very few ... to get their investment back..... riding on free paper. Thats why it is so tight right now, we collectively know and have confidence in where this is going....
will we buy more? apparently not....
will we sell it off?..... apparently not.
This leaves it open to manipulation in the market to move the price lower each day.
We know what PRB is worth.... a lot more than where it is now.... what we need is the confidence to buy those few more shares back and stop any selling.
What is lacking is PROMOTION plain and simple... not enough eyes and ears on this story to bring in new investors. Lacking that promotion a definative deal on the chromite.
The weak spot is Cash!... had we loaded the till as I suggested at the begining of Dec with a $2.50 FT and full wt @ $5.00 we would have the funds to drill for at least another year.... Funds and brokers would have to buy out of the market to get a position.... what they think now is that they have an oportunity to take that position at a discounted value.
Had we raised that $5,000,000 in Dec, we would be trading at $2.50 plus right now.
It allways takes more time than one thinks to ink a deal.... That placement would have bought the confidence that drilling on Borden will not stop for at least a year.
That being said, if either AEM of Cliffs come through with cash to PRB.... our dreams have come true... Stock halt and major gap up proportional to the cash injected.
JMHO
