Pantheon Resources Share Discussion Threads

[probabilityofsuccess] 11/1/2022 08:52

………;…or there could just be a significant seller out there who, for their own reasons, wants to sell. Let’s not fall into the CB confirmation bias trap, hey!

[ngms27] 11/1/2022 08:36

This is what happened to HUR when they issued convertibles. It's absolutely sh1t for equity.

[johnswan193] 11/1/2022 08:32

Totally agreed HD. The convertible holder does not need to convert and sell to be able to reduce their exposure.

We may see more buying as we get closer to results, but for now I expect market participants will be reluctant to buy knowing there are at least two parties (Farallon & the convertible holder, maybe even some of the 65p placing holders) who may sell into any short term strength. Likewise the effect of any recent buying may have been offset by the actions of the same parties.

[mlf51] 11/1/2022 08:20

Doesn't seem to take much to drag it back almost like they don't want it to go too far.

[hiddendepths] 11/1/2022 08:20

CONTENT5827 - there may be other factors at play. I suggest you read about delta hedging, for instance. Convertibles specialists adopt very different strategies to equity investors and their modus operandi seems very strange and even alien to those who haven't encountered it before.

Equity logic often doesn't apply! They frequently do not want or need the equity exposure, even if that means they miss out on large capital gains. Loss avoidance is paramount.

Having worked alongside these weirdos in the past, I know what I'm talking about. But most innocents on this board know nothing about this aspect of the market and seem to glaze over.....

In this case, I too am rather sceptical about the convertibles being the source of the selling. But not for the reasons you espouse.

[winner66] 11/1/2022 08:05

Today will be an up day , how much of an increase who knows . Also hopefully enough of the distortion in terms of buys showing as sells .

[doublestexan] 10/1/2022 23:41

Content5827
Thanks for sharing your views on the convertible bond.
I’m thinking so true…….
I would not buy a convertible bond and then convert it unless I felt that the transaction benefitted me greatly and immediately upon the conversion.

[sirmark] 10/1/2022 19:53

hxxps://polaris.brighterir.com/public/pantheon_resources/news/rns/story/r75nmjw

[soggy] 10/1/2022 18:44

Well, I had another small top up today. Don't know about support levels, realise it might still drop a bit, but at this level it's still a very real bargain. And if it drops more I'll most likely have another nibble...In a couple of weeks the webinar will no doubt clarify and amplify the investment case. Surely we'll be back up the hill share price wise then...

[content5827] 10/1/2022 18:40

my first time ever on one of these chat sites.
there appears concern that the 78p convertible bond is effectively a cap.
i dont share that view.
logically,the cb holder is not going to convert when the underlying price is at or even close to 78p.
i would argue they would only consider converting pre drilling updates if the underlying price is much much higher.
their purpose of converting would be to make a serious upside gain.
if they converted when the underlying is 78p,they then have to gamble that the share price is going to rise from that point.what if it falls after they have converted.they would then be out of the money.
using completely random numbers,surely the converter will want to do so when lets says the underlying price is one pound and there is strong liquidity around the stock,so they can comfortably convert at 78p and then sell into the higher market price of 100p.
i dont see why the cb holder would even contemplate converting when the underlying is at their convertible rate unless they had other motives,such as fear.fear that things with panr look different than when they first did the deal and are concerned about panr,s liquidity going forward and therefore concerned about panr,s ability to repay the bond on maturity.in those circumstances they may see the necessity to convert and quickly sell at or close to the same price to exit their exposure.

[chris0805] 10/1/2022 17:51

Every day it is mirrored on OTC... sometimes listed buy / sell incorrectly.. usually within10 minutes...

[hiddendepths] 10/1/2022 17:22

forwood - if there's a big seller, no matter what the chart says, down it goes....

[probabilityofsuccess] 10/1/2022 17:20

Thanks johnswan.

[forwood] 10/1/2022 17:10

(double post)

[forwood] 10/1/2022 17:10

JohnSwan - Ist level support is c 72 and if that goes then 67. Am very surprised it's fallen at this stage but think it's a read across from the very poor sentiment in the states.

[sirmark] 10/1/2022 16:46

This time worth noting that it was mirrored with the OTC, but I suspect the same seller/buyer.

[sirmark] 10/1/2022 16:45

16:39:05 77.061 957,413 737.79k O

There it is ...

[johnswan193] 10/1/2022 16:35

To be honest its more with consideration to the point where I add more. Maybe I would be tempted below 70p, otherwise I'll wait until the first results are in. I don't intend to sell any shares pre-results. As mentioned previously, at that point whether the price is lower or higher than now I believe if lower will the drop will be overdone and if higher the increase will be underdone.

[probabilityofsuccess] 10/1/2022 16:24

That is very much a traders question johnswan. Not a criticism, just an observation!

[sirmark] 10/1/2022 16:19

In just two/four months with success this will be circa £2+ a share IMO and on every radar out there... as it is, we're just plodding along doing what we do...finding oil and proving it up :)

Multi chance to make it big with the upcoming drills and also the production mid year is going to help massively.

As they say you pay's your money :)

[winner66] 10/1/2022 16:02

The support will be whatever the support will be . Money raised at 65p , the bond factor , sentiment regarding the same and the prices set. All which doesn’t distract from the goals for this drilling and testing campaign. But today the mark down in price doesn’t seem to reflect the level of selling. However things get skewed by late reporting. Role on testing and the turn of the drill bit .

[johnswan193] 10/1/2022 15:54

Forwood, if you're around I'd be interested on your downside support analysis. Not so interested on the upside analysis given the 78p effect, something I believe is going to be too strong pre-results.

[astralvision] 10/1/2022 14:12

OD
I ain’t Conor.In fairness I thought I should post the link where the article may be found.
Not sure what your on about, it’s a free subscription.
Some folks are never happy!