Something to ponder on your day off...

PCY holds 45% of NKL's shares. In the first week of the run up, PCY's market cap was increasing roughly equally with the increase in the value of their NKL shares. But this last week, things got all out of whack when TD started selling to correct their 'buying near the top' error. The speed at which NKL moved from over $5 to $3 burnt a lot of people. I'm assuming TD was slower to react than others and their selling of PCY last week has suddenly put it in an oversold position relative to NKL. But it appears that TD (overall house position) has now sold 800,000 more shares than they bought since the Wellgreen news release, so I'm assuming that they are probably out of shares to dump.

PCY should be doing much better. The 22.5 million NKL sharesthat PCY holds have increased in value by over $50 million in the lasttwo weeks. However, the market cap of PCY itself has increased by only$19 million. PCY's market cap is lagging where it should be by over$31 million.

Based on the price of NKL shares that PCY holds, their market cap should be $31 Million higher than it is currently.
$31,091,892 divided by 190831086 PCY shares = 16.29 cents.

The large amount of Cash on hand, plus holdings in other companies haveall stayed the same or increased in the past two weeks. The coal assetsare already some of the most undervalued around.

I believe PCY is in for a big bounce Tuesday. I also expect a good move up for the market in general, and NKL in particular in the morning. Both should also move PCY even higher as well.

Just something to think about people. I really like both NKL and PCY at these prices. NKL drilling results start trickling out this month as they become available.

GLTA