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  5. PNPN: What is your opinion today with the good drill results. [Power Nickel Inc.]
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Q: What is your opinion today with the good drill results.

Thank you
Asked by Francis on May 14, 2024
5i Research Answer:

PNPN is up 163% YTD as investors get excited about its recent discovery. The company has discovered a high grade core and has set up some delineation boundaries. The current drill program has ended, so the stock might settle down, but certainly the reported assays are quite interesting and significant. Insiders own 8.5% and have been buyers. It raised money in April but does not have a lot of cash, and with the stock strength another issue would not surprise us in any way. There is still lots of work to be done, but this is certainly a 'discovery' and now the hard part begins of outlining exactly what it has and how much it is going to cost to potentially extract it. But the stock gains seem justified here, but of course there remains high risk overall.