Group Ten Metals (TSXV: PGE) hit a new all-time high of $0.38 per share this morning for a gain of 162% from NIA's October 20th suggestion at $0.145 per share! PGE has 18,477,553 warrants with an exercise price of $0.12 per share that expire next month. At PGE's current share price of $0.36 per share, PGE is trading for triple the exercise price of these 18,477,553 warrants. The holders of these warrants are currently making a profit on paper of CAD$4.435 million, but if they don't exercise their warrants within the next few weeks, they will expire worthless! Assuming all 18,477,553 warrants get exercised, PGE's public float is about to rapidly increase in size by 21.1%, which we expect to cause major downward pressure on PGE's share price in the weeks ahead.
In our opinion, PGE reached a short-term peak this morning and will see a major correction in the days ahead, but Canadian Palladium (CSE: BULL) here at $0.15 per share still has much more upside and is nowhere near a short-term peak.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has received compensation from BULL of USD$30,000 cash for a six-month marketing contract. Never make investment decisions based on anything NIA says. This message is meant for informational and educational purposes only and does not provide investment advice.