Once the traders find they can't buy any more decent volume at 98-1.00 they will increase their bids. PDG has been trading consistently at 3-4 cents below conversion value to AR so until that gap closes there will be lots of volume on PDG.

AR announced record Q3 production and increased guidance for 2012 production ... by the time the deal closes it could be $11 which would put us at about $1.12 -$1.14. Not bad for waiting 3 more months.