PIO - Pioneer Resources

[bellinvest]

I won't be participating in the SPP because;

A) I already hold enough
B) I could buy on the open market for the same price or a touch cheaper

Now funded let's hope the majority of the money is pumped into all of their exploration programs listed within the announcement! they have a lot of exciting works in the September quarter across Lithium, Gold, Nickel and a Base Metals project.

GLTAH

 

[trew]

Now funded let's hope the majority of the money is pumped into all of their exploration programs listed within the announcement! they have a lot of exciting works in the September quarter across Lithium, Gold, Nickel and a Base Metals project.

Don't be surprised if there is another capital raising within the next 3 months
There have been 2 capital raisings in the 2 months since this thread started

The directors are making hay while the sun shines their way, making sure directors fees will be covered for the next couple of years

 

[Silverstrat]

I won't be participating in the SPP because;

A) I already hold enough
B) I could buy on the open market for the same price or a touch cheaper

Now funded let's hope the majority of the money is pumped into all of their exploration programs listed within the announcement! they have a lot of exciting works in the September quarter across Lithium, Gold, Nickel and a Base Metals project.

GLTAH

Yeah same here, hold enough already, maybe too many.So much for all the imminent announcements, I suspect there will be one once the spp is sorted but feel it wont get the big rise like before with all the dilution and people who bought in high wanting to cash out at a profit.Not feeling really positive with this anymore, time will tell.

 

[hussman]

Thought I'd share a funny story. I got into PIO today, not because I wanted too, but because I had a pending order which I forgot all about, and it got executed. Imagine to my surprise when I read my emails today. Your order has been executed!

Only in at 17,000 units, which is peanuts in the grand scheme of things. But still pretty funny. Happy to hold for the long term. My 2 weeks of being in the market is performing better than my physical PM's.

 

[southerncross]

I was wanting to get back in between 3-4 cents but have held off due to all the wishy washy ann's and not knowing what is happening next, it just feels like there is no clear direction and things are jumping from one place to the next with management.
Just looks like it will struggle a little more yet and with the SPP currently higher than the stock on market why would anyone participate ?

They do have a lot of great asset's and potential huge money spinners, but nothing solid seems to be happening apart from CR's and TH's. If the SPP is a flop I can see PIO back at 2-3 cents until they actual produce something solid.

 

[bellinvest]

The market will determine the underlying price at the end of the day.

I like the projects which they hold hence why i have been on board for quite awhile. I see significant upside potential browsing through all their project reports, but like all explorers, without decent drill cores to prove a suspicion, nothing spectacular will occur.

I'm quite happy to wait and see how their exploration program progresses throughout the remainder on this year. EV's are the future, gold is in a bull market, and nickel is an important product in EV battery cells... so PIO have my bases covered.

Cheers,
B

 

[bellinvest]

Now funded let's hope the majority of the money is pumped into all of their exploration programs listed within the announcement! they have a lot of exciting works in the September quarter across Lithium, Gold, Nickel and a Base Metals project.

Don't be surprised if there is another capital raising within the next 3 months
There have been 2 capital raisings in the 2 months since this thread started

The directors are making hay while the sun shines their way, making sure directors fees will be covered for the next couple of years

I would like to see results from their drill programs prior to any further capital raising (perhaps wishful thinking - we will see).

Since I started this thread, the price as per close today is up approx. 55%... so i don't mind those odds. I also believe the management team to be very professional, but lets see if they produce the goods or not in the latter half of this year. My money is on a price >5c later in the year... a conservative yet healthy increase riding news.

Cheers,
B

 

[southerncross]

Now funded let's hope the majority of the money is pumped into all of their exploration programs listed within the announcement! they have a lot of exciting works in the September quarter across Lithium, Gold, Nickel and a Base Metals project.

Don't be surprised if there is another capital raising within the next 3 months
There have been 2 capital raisings in the 2 months since this thread started

The directors are making hay while the sun shines their way, making sure directors fees will be covered for the next couple of years

I would like to see results from their drill programs prior to any further capital raising (perhaps wishful thinking - we will see).

Since I started this thread, the price as per close today is up approx. 55%... so i don't mind those odds. I also believe the management team to be very professional, but lets see if they produce the goods or not in the latter half of this year. My money is on a price >5c later in the year... a conservative yet healthy increase riding news.

Cheers,
B

I'm not doubting the eventual outcome of PIO at all, it has some spectacular ground and as you said Gold, Lithium, Nickle + more is a really solid portfolio. I just want it to settle down and get it's groove on as it has been a freaking rollercoaster ride for a few months now and as a result is burning it's credibility.

Price spikes and falls, 3 day trading halts based upon nebulous announcements, day traders jumping all over it like herpes and a bunch of buyers who bought in with fomo at the recent highs are not doing it any favours at all, It's fun to watch, but it's all over the place like a crazy woman taking a shit at the moment.

It's all well and good to have what it has, but it all needs some focus and management need to provide a clear pathway forward instead of pulling a rabbit out of a hat one minute and then shouting look over there in the next instance.

I got in fairly low and sold near to recent highs for a nice 100% + return after the dome sample results but there are a lot of people who bought well above recent SP who will sell just based on frustration with the last month or two as soon as they can get their $ back and the recent SPP doesn't look like it will be a major success.

Will keep watching though, as it has some huge potential.

 

[bellinvest]

Don't be surprised if there is another capital raising within the next 3 months
There have been 2 capital raisings in the 2 months since this thread started

The directors are making hay while the sun shines their way, making sure directors fees will be covered for the next couple of years

I would like to see results from their drill programs prior to any further capital raising (perhaps wishful thinking - we will see).

Since I started this thread, the price as per close today is up approx. 55%... so i don't mind those odds. I also believe the management team to be very professional, but lets see if they produce the goods or not in the latter half of this year. My money is on a price >5c later in the year... a conservative yet healthy increase riding news.

Cheers,
B

I'm not doubting the eventual outcome of PIO at all, it has some spectacular ground and as you said Gold, Lithium, Nickle + more is a really solid portfolio. I just want it to settle down and get it's groove on as it has been a freaking rollercoaster ride for a few months now and as a result is burning it's credibility.

Price spikes and falls, 3 day trading halts based upon nebulous announcements, day traders jumping all over it like herpes and a bunch of buyers who bought in with fomo at the recent highs are not doing it any favours at all, It's fun to watch, but it's all over the place like a crazy woman taking a shit at the moment.

It's all well and good to have what it has, but it all needs some focus and management need to provide a clear pathway forward instead of pulling a rabbit out of a hat one minute and then shouting look over there in the next instance.

I got in fairly low and sold near to recent highs for a nice 100% + return after the dome sample results but there are a lot of people who bought well above recent SP who will sell just based on frustration with the last month or two as soon as they can get their $ back and the recent SPP doesn't look like it will be a major success.

Will keep watching though, as it has some huge potential.

I agree on the above points, it's been a rather interesting ride this year! The day of the Sydney conference when the price spiked to 10c within 30mins was a wild time... I swear I did no productive work that afternoon.

Now they have the cash, let's pump it into the ground across the projects and firm up some good results. They have an initial 10,000m of drilling at ACRA which I hope will form a JORC deposit or go close. The lodes looked stacked which is somewhat exciting... I have a dream of a small ACRA mine in the coming gold bull market (say 50,000oz/year) which can then be used to fund the Lithium/Nickel Projects through the EV revolution... then I woke up.

Just a quick note, I've reviewed the 2015 remuneration report out of interest;

David Crook (MD) has a base salary of approx. $350,000 + Options (non-cash) (~$500,000/year)
Chairman base salary of approx. $75,000 + Options (non-cash) (~$110,000/year)
Non-Exec Director's base salary of approx. $50,000 + Option (non-cash) (~$80,000/year)

SO direct cost is approx. $550,000/year + Options (non-cash) for running expenses... plus the usual business expenses of a ASX business. $500K for a good explorer/miner MD is basically the norm in the resources sector. I remember I sold out of BDR a while back when I found out their MD was paying himself $1m+/year (twice that of the EVN MD 'Jake Klein' at the time) with a high cost production mine. I took profits and left.

Cheers,
B

 

[Boyscout]

PIO Opened at 0.37 sitting at 0.39....

The only happy point for me was that i managed to buy me some more at 3.8c which brought my avg down from 4.7 to 4.3
Hopefully now we can see an upward climb as i am out of cash to buy anymore

The confusion.. what to do???

I know that there are guys amongst us that have bought into PIO at a higher price then me, and there are also the lucky ones who bought low and sold at or near the 10c peak. I havent been about to pull any profits out as yet but am happy to hold for medium term

At the time of all the PIO buzz i didnt have access to liquid funds so i wasnt able to buy in, i managed to buy $10k worth at 4.7c and then bought another $5.5k at 3.8c to avg down to 4.3c

I am almost certain that PIO will eventually climb back up and come back to 5c and above (hopefully within the next 3 months) but currently PIO make up 75% of my portfolio and i am in 2 minds if i should be putting more money on them at 3.4/3.5c to further average down to around 4c or just jump on something else

Seeking your thoughts

 

[finicky]

Definitely jump off - i.e diversify. That way you'll end up being ripped off by two or more managements, brokers and traders.
Short term daily chart is looking crap - wait till the management cooks up some more news for their story book before adding.

 

[Skyrocket]

PIO Opened at 0.37 sitting at 0.39....

The only happy point for me was that i managed to buy me some more at 3.8c which brought my avg down from 4.7 to 4.3
Hopefully now we can see an upward climb as i am out of cash to buy anymore

The confusion.. what to do???

I know that there are guys amongst us that have bought into PIO at a higher price then me, and there are also the lucky ones who bought low and sold at or near the 10c peak. I havent been about to pull any profits out as yet but am happy to hold for medium term

At the time of all the PIO buzz i didnt have access to liquid funds so i wasnt able to buy in, i managed to buy $10k worth at 4.7c and then bought another $5.5k at 3.8c to avg down to 4.3c

I am almost certain that PIO will eventually climb back up and come back to 5c and above (hopefully within the next 3 months) but currently PIO make up 75% of my portfolio and i am in 2 minds if i should be putting more money on them at 3.4/3.5c to further average down to around 4c or just jump on something else

Seeking your thoughts

Diversify. Definitely have some gold mining stocks in your portfolio for the next few years.

 

[SilverDJ]

I won't be participating in the SPP because;
A) I already hold enough
B) I could buy on the open market for the same price or a touch cheaper

I got the share offer too, and a phone call from them yesterday to see if I got it (they must be desperate).
No point at the offer price of 36c
I can buy 2 million shares on the market right now for 35c.

 

[SilverDJ]

I am almost certain that PIO will eventually climb back up and come back to 5c and above (hopefully within the next 3 months) but currently PIO make up 75% of my portfolio and i am in 2 minds if i should be putting more money on them at 3.4/3.5c to further average down to around 4c or just jump on something else

75% of your portfolio is way too much.
Sure, if you don't buy more now and it goes it you'll regret it.
But if you have 100% of portfolio in 1 stock and it goes down, you'll regret that even more.
I like looking at the entire portfolio figure, it's the thing that makes me the most happy or the most sad. Currently up 50%, so I don't feel bad about some of my losses in there that are up to 80%!

 

[finicky]

Yeah, don't add another dollar's worth if it's already 75% of your total. That's fundamental, even if you're talking about a solid large company with a history of good management and profitability - which you are not.

If you're lucky and there's a spike in price you need to already have a 'plan', and be committed to it. That should be to sell a big chunk imo. That's what others will be doing. You can end up with nothing staying too long in a stock like this - either because of company going into administration or because of rapid dilution of shares. You will find it hard to accept you're wrong if thats the way it goes, hard to take a loss, and that mindset will lock into an eventual total loss.

Why dont you skim these threads to get the flavour of what can happen? Both the main stocks discussed went broke.

http://forums.silverstackers.com/topic-39505-cobar-ccu.html
http://forums.silverstackers.com/topic-6799-potential-of-silver-mine-stocks-svl-ccu-ayn.html
http://forums.silverstackers.com/topic-6299-alcyone-resources-ayn-page-1.html

AYN is a good study; AYN took over a silver mine that had been used to drain shareholders for over a decade before going kaput - Macmin Mining. Unbelievably the same mine was then used almost straightaway to drain a fresh lot of shareholders before it too hyperinflated and went broke. The shareholders went broke, that is - not the managements. There were supporters of AYN on all the big share forums.

Or this site of delisted companies to give an idea of how common going broke is. The regulator doesnt care - its such a great lurk that failed directors just start a new one up. They dont have to speak to the old shareholders again, or look them in the eye. They walk away from a decade of failure rich.

Edit: oh yeah, so that's http://www.delisted.com.au

 

[phrenzy]

I talked to David Crook twice in the last week, I'm sure that there are limits but he seems happy to talk to shareholders (even little ones like me) trying to decide whether to take up the SPP and recommend it. I think they're on the level and the gold mine is pretty good looking. He also let slip there's an anomaly they found hough level silver (only in one drill hole) but very very high at one of their sites. I like them lot so I took up the SPP even though it's a little below the asx spot because I get a decent option for every 3 shares I buy.

Having said that I'm going to be getting the family into the two companies that have a process for getting lithium out of lepodolite. Platypus are patenting the process and although they're a miner if it's the real deal and becomes industry standard their patents could be worth unbelievable amounts. Only not getting some myself because I've got lithium exposure and the family doesn't and I like mine with gold.

 

[scrooged]

I talked to David Crook twice in the last week, I'm sure that there are limits but he seems happy to talk to shareholders (even little ones like me) trying to decide whether to take up the SPP and recommend it. I think they're on the level and the gold mine is pretty good looking. He also let slip there's an anomaly they found hough level silver (only in one drill hole) but very very high at one of their sites. I like them lot so I took up the SPP even though it's a little below the asx spot because I get a decent option for every 3 shares I buy.

Having said that I'm going to be getting the family into the two companies that have a process for getting lithium out of lepodolite. Platypus are patenting the process and although they're a miner if it's the real deal and becomes industry standard their patents could be worth unbelievable amounts. Only not getting some myself because I've got lithium exposure and the family doesn't and I like mine with gold.

Thanks for that Pallister.

Odd David Crook would share his "very very high" readings of silver over the phone (to the little ones like you) when it is his legal obligation to disclose to market first and foremost, albeit he thought it was even relevant.

So one of of you are talking sh#t.

Good luck with Platypus btw.

 

[VRS]

I am almost certain that PIO will eventually climb back up and come back to 5c and above (hopefully within the next 3 months) but currently PIO make up 75% of my portfolio and i am in 2 minds if i should be putting more money on them at 3.4/3.5c to further average down to around 4c or just jump on something else

75% of your portfolio is way too much.
Sure, if you don't buy more now and it goes it you'll regret it.
But if you have 100% of portfolio in 1 stock and it goes down, you'll regret that even more.
I like looking at the entire portfolio figure, it's the thing that makes me the most happy or the most sad. Currently up 50%, so I don't feel bad about some of my losses in there that are up to 80%!

Yeah - that's OUTRAGEOUS - I only have 20% in PIO - and 75% in BGS.

Gotta get your priorities right lol!

Only joking - I sold off some BGS a while back to diversify into PIO - hoping they can turn up the right numbers at Mavis & Acra asap...

 

[Court Jester]

I am almost certain that PIO will eventually climb back up and come back to 5c and above (hopefully within the next 3 months) but currently PIO make up 75% of my portfolio and i am in 2 minds if i should be putting more money on them at 3.4/3.5c to further average down to around 4c or just jump on something else

75% of your portfolio is way too much.
Sure, if you don't buy more now and it goes it you'll regret it.
But if you have 100% of portfolio in 1 stock and it goes down, you'll regret that even more.
I like looking at the entire portfolio figure, it's the thing that makes me the most happy or the most sad. Currently up 50%, so I don't feel bad about some of my losses in there that are up to 80%!

Yeah - that's OUTRAGEOUS - I only have 20% in PIO - and 75% in BGS.

Gotta get your priorities right lol!

Only joking - I sold off some BGS a while back to diversify into PIO - hoping they can turn up the right numbers at Mavis & Acra asap...

should have bought into PSC instead of PIO

I added them and BGS onto my watch list the day I bought PIO and each day looking at the watchlist currently makes me a sad panda.

 

[Silverstrat]

I feel your pain Lunar with PIO, wobbling around like a drunken sailor but BGS is rock solid and looking like it's ready to pop, best of luck , hopefully PIO can concentrate on one venture and actually digging something up.