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PSV - Perseverance Corporation

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Could be another one to go, but there could be a predator come in here as ML suggested. I wouldn't be surprised with at least a dead cat tomorrow. Short term trading opp for mine and will be watching the open with interest, but won't be getting caught with pants down that's for sure.
 


I used to own this and bailed about a year ago when I just got too bored with it. Lucky.

How many brokers had a buy on this when it was in it's 30s and 40s?? I think there were a few. Just goes to show doesn't it.... They were probably the same ones recommending BDG over $1.00 too. Ouch.

Good examples of not going in head first with all the eggs on anything, and to have an escape plan. (if possible)
 

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I can't see what the problem is, and apparently someone else yesterday thought the same. Some huge single trades taking out entire depth levels in one go multiple times suggesting someone is accumulating? Up solidly when the general market is tanking too. One for the bottom feeding bargain hunting specs?
 

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I see that Merril has a 12 month target on this one at 25c.

I just don't understand why the brokers want to pump this one so much???

Maybe cos they told their clients to get in when it was at 30-40c.

Me no understand!!!!

I still will not be touching this one even at 13.5c.
 

POD, what are your reasons for not liking PSV & why do you compare it to BDG, as though to have already written it off? They both have had their setbacks, and from what I understand are both moving into better mining areas, and have sufficient funding. I am expecting a sub shareholder notice for PSV soon, the way the tape has been played the last 2 days?
 


Hi folks.

PSV ..... expecting minor, but positive news on 30072007 ...

happy days

paul



=====
 
Trader Paul said:


Hi folks.

PSV ..... expecting minor, but positive news on 30072007 ...

happy days

paul



=====
Click to expand...
30 July Paul? Was that the General Meeting Proxy Form? he he

I think I could dip into my piggy bank and buy this at the moment.

What a complete disaster. If they have anything of value, expect the administrators to get bottom dollar!

I haven't seen anything fall like this since, um, BDG. Don't have to go far do you? I'm sure the same institutions were on the register too, providing the same buy recommendations. Makes me just the slight skeptic.

Who's going to turn up on the register here shortly I wonder?

Or, if no one does, they look doomed really.
 

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Perseverance Corporation all right, you would need alot of it right now lol , I wonder if we you can buy "perseverance" i'm running low
 
Anyone could give me an advice why PSV dropped below 10c suddenly this afternoon?

I noticed a new ann there, is that the reason? thx
 
latest news is their total net loss was $19.7 million for the year. ouch.
compared to a $59.0 million loss for the previous year. lol. doesn't seem so bad now does it?

how low can they go? is this company heading to zero? i know someone holding them and refuses to sell - he says he's persevering. :headshake
 

Have a look behind the result - the reason why the loss was so big last year was due to mark to mark accounting on forward contracts........

If you ask me, these guys are in deep depp trouble - marginal resources with high cash costs, production hasn't proven it can be reliable enough for them to go forward. I also think the impairment tests done on their goodwill was ridiculous - they used a 9 - 10% discount rate with a gold price of $800 AUD - firstly, the discount rate should be much much higher for such a risky asset (BBB debt pays a higher yield!!!) and then are we really guaranteed the gold price will stay up...

Put it this way - if they can't prove in the next 6 - 12 months that they can produce, they will be insolvent because they won't be able to raise anymore money....

I hope they do perform however, because a mate of mine has these at 22 cents just before the crash - I'm feeling awful sorry for him right about now...

Cheers
 
Garimpiero reports in the Monday Age (03/09/07) that this sp is near its bottom and uses Merril Lynch 12-month share price target of 20 cents and buy recommendation as the base for his report.

I am not yet a holder but have added it to my watch list today and will buy once the charts indicate the time is right. The following chart shows we are are heading in the right direction from a MACD perspective

 
I think someone's bottom picking here. Been some unusual volume and I don't think it's just POG appreciation considering it's latest reports. Up about 50% the past week.
 
compony for sale "going cheap". lots on offer and growing.more joining in all the time....................................
 
lottoluck said:
compony for sale "going cheap". lots on offer and growing.more joining in all the time....................................
Click to expand...
lottoluck,

Can you please expand on this for us.

Why is it cheap?
What's on offer?
What's growing?
Who's joining in?

Cheers, kennas
 
kennas said:
lottoluck,

Can you please expand on this for us.

Why is it cheap?
What's on offer?
What's growing?
Who's joining in?

Cheers, kennas
Click to expand...

Answer has been revealed. PSV being bought out for $282m or $0.2 per share by TSX listed Northgate Minerals. Price on Friday was 14.5c.
 
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