Passport potash (PPI.V)

This is starting to hurt.

my free shares are not free anymore....I think without some drill results soon, this puppy will be a lot worse.

I am going to try a call to IR this morning to see if they may shed some light....it is doubtfull.

I'm hanging on because I belive in the company, but now that i'm losing money on it, I will be a bit more skeptical...

Spoke with Peter Kletas from IR. he gave me all the standard response info. I don't have the email from him here but i will post it tomorrow.

In good news. Passport got research coverage picked up by:

Stone cap securities

Dundee wealth management

Mackie Research

all released their reports at the same time...weird.

either way, the release of the reports caused a 20% pop today

Hang in there... I've been following this one and I think you have found a good pick. I would like to get in if I can free up the cash, but that's never easy when you don't have a job to pay the bills. I was seriously thinking of selling some shares for a moderate loss to buy this... especially at the prices we were seing as of late. As I've mentioned before, one thing I have learned (although I seem to fail to act on my own advise) is to be patient... buying and selling. Good luck!
Fred

Well i have been pulling the crap hat down over my head for two weeks now.

What I failed to do here even though I said I believed in the stock was to buy some more in to low .50's!

If it dips again I will scoop some up, but i may have missed that train.

They have completed 9 rotary holes so far and 1 core hole. the core holes are the ones that you get the assay results from.

They are really going to have to step it up to get all the results in for the 43-101 by June. I predict end of June or July.

The contending companies in the basin are really stepping it up as well. they have issued about 20 new drill permits this month alone.

I spent some time trying to figure out what my average price I bought in at is and i came up with .63/per share.

It seems weird seeing as how I never actually bought in that low. but I did sell some at $1.60 and $1.05.

I wish I would have figured this out before!

My new strategy is to buy any time it dips under this price now, which it probably won't now that i have a strategy

The analyst coverage is good but I think we may see a price dip again as the drill results are still almost 2 months away.

We may get results from a hole or two before that but in the last email i recieved from the company they hadn't sent any samples to the lab yet.

If I was a savvy investor I could have played this stock like a fiddle as it has been trading in the .60 to .80 range.

Waiting. . . Patiently.

Good webcast interview from Josh Bleak

He discusses timelines and why the company is a good long term hold.

More importantly NI43-101 "6 to 8 weeks"

Link here


In other news, IR says they have the assays from 4 core holes in hand as we speak.

Volume really picked up today as I am almost positive the results should be released this week.

Also, 25 million shares come free trading on June 4th. so that may play a factor in the SP.

You are making it sound juicy, but for now I am staying out.

To be honest, I have always been a little intimidated with the thought of talking with the investor relations guys, and figured they would only talk with analysts from reputable firms. Any tips?

LOL, "juicy". I hope i'm not pumping this stock.

Investor relations are just people like us. I have no problem calling them but most often I email.

Sometimes you get a quick response, sometimes you don't get a response at all.

Most of the time you get the standard statements from the previous press release but sometimes its good information!

I used the general email contact form on the Saturn Minerals website to ask a few questions about the samples they had sent to the lab and recieved a response 1 day later from the president of the company!

This may only work because these are small exploration companies though.

It's official, results next week.

Passport Potash Completes Initial Phase Drill Program on Twin Buttes: Set To Release First Drill Results Next Week

They are releasing results from 7 holes instead of just 4 that IR told me about.

In true stock douche fashion, I feel the necessity to gloat about todays action. Also because I have been watching this stock trail in a consistent down trend for over 3 months now....

25% increase today on 3.3 Million shares traded. Been waiting on news forever now. hopefully this means the big news I have been expecting!

At least somebody has some good news! Good for you. Now you just need to set your target price and be ready to cash out quickly when it gets there.

I find myself comparing PPI to AAA(Allanah potash). I think PPI wil outshine AAA since it is located in north america. All we are waiting on are drill results and the techincal report which have been continuously delayed.

Once the results are in and if they are as good as expected, I predict PPI will be north of $2. I know thats asking alot but here's hoping

Recieved the voting ballot the other day.

2 issues stood out to me.

1. Shareholder rights program = good thing for us in the event of takeover.

2. proposed share consolidation, up to 10:1. this definatly doesn't sit right with me.

One thought that has been kicked around for a reason is that another private company would like to take over PPI. I'm not sure how that plays out with a reverse split.

Another thought is that they would like to get the share price up to $5 so they can list on amex exchange. I'm not sure of the amex listing rules though.

Anyone have any ideas as to why a company that still has approx $9M in the bank and an almost completed drill program would want to do a reverse split?

My interpretation of that... which has happened to me before is so that they can issue more shares at a higher price to raise more money again. I'd say its common practice for juniors, and you don't know what kinds of plans they have in store for the additional cash. For this scenario, its a great strategy to save it for a rainy day (i.e. when the mine financing is required, its easy to raise the money, because share price is high and issued shares are low. For example... you have 100 million shares trading at $0.50. Split 10:1 and you have 10 million shares trading at $5. (This usually depreciates for a few months from the initial split/consolodation price before it begins to rise again). Then you can issue one million shares to raise $5 million dollars. Same percentage, as issuing 10 million at $0.50, but you have the benefits of listing on other exchanges and by keeping the total issued shares low, the price can rise exponentially.

Thats my view and not any form of a technical analysis.

Pretty much what Fred said. Its common practice when trying to seek new investors. Take it as a sign that think they are ready to pitch to the mutual funds which often have restrictions on buying stocks that trade below $5. Possibly as you mentioned it might be to meet Amex listing requirements, which is also good. More investors chasing the same amount of shares is good. However, the idea is usually to issue more shares which may dilute the stock a bit.

Anyway, as Fred pointed out, before or after split, nothing actually changes. Only perceptions change.


P.S. Citi was at $4 before the 1:10 reverse split. Now they are at $30. Not saying it is entirely the fault of the split (the whole markets dropped the same %), but Fred is right again that stocks usually fall a little bit after reverse splits.

So here is a bad news release that kicked the crap out of this stock today:

Disclosure Clarification

It pretty much sums up what most retail investors were feeling.

The BCSC is wondering why passport after putting drills in the ground last november have yet to release the results (witholding information).

This forced the company to release some of their results. by doing this I think it confirmed the BCSC's suspisions and resulted in a 25% drop in SP.

where is my exit strategy now? I still think the fundamentals are here and the resources as well(partially based on the forced release of the cores today).

BUT, the question is, is the reputation of this company shot now and a continued slide in SP will be the result OR will the company carry on with this learned lesson and start being more transparent as they should have been all along?

I don't know what to tell you. This kind of thing is par for the course with junior miners as far as I can tell. Don't think it will have long term impact, but who knows.

Bought a bunch earlier this week and sold today for a 20% gain. still holding a big loss on my core position though

News out: private placement at .15 and repricing of warrants from 1.20 and .83 down to .20....

holding out hope for good technical report one day...

just my luck. got out early and missed another 27% gain today.

It is disgusting how the big investors can walk a share price down to give themselves a nice little pp at .15 and then walk the price back up after the dust settles leaving us little retail holders wondering what the heck happened...

well, PPI is halted over the weekend. the long awaited and NI43-101 resource estimate was promised to be out by the end of Q1 so I am assuming this is what the halt is for.

I honestly just want to get out of this one. I have held far longer than I wanted too. hopefully the news is positive and the market reacts accordingly. potash is not quite the hot sector it was last year though..

I read something about insects as feedstock for cattle instead of corn. Much more nutritious, and easy to multiply. But I guess you have to feed the insects something to breed them effectively, so probably back to corn, which means back to Potash.

Anyway, good luck with this one. You were certainly patient with it.

Hey Max, your famous! your previous post about insects made it into Google alerts!!! congrats!