Prospector Metals Corp. (PMCOF) has seen its share price surge recently for no discernable reason. Yes, this season’s drill program at the ML prospect in the Yukon is widely anticipated as a follow up to the big discovery last year on the Tess target. But it’s a bit early to see strong buying in anticipation of drill results that probably won’t hit the market until midsummer, notes Brien Lundin, executive editor of Gold Newsletter.
And yes, as I reported in the May edition of Gold Newsletter, the company announced a great deal to vend out its non-Yukon assets into a merger with BeMetals, to be named Lightning Resource Corp. But that news is now over three weeks old, and shouldn’t be a spark for the recent price rise.
Prospector Metals Corp. (PMCOF)
I will say that the deal with BeMetals seems to be much more than it appears at first. For one thing, the board of Lightning will include a number of big names from the B2Gold and Bema Gold family tree, notably founder and CEO Clive Johnson. And they all seem not only engaged but excited about the prospects for the new venture.
To me, that seems to point toward much more than the projects now being vended into the deal. Add it all up, and it seems to me that smart money has been buying Prospector with some enthusiasm. And it seems well placed.
We’ve been waiting and hoping for a price dip for a better buying point with Prospector, but it doesn’t look like we’ll get that.
