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Pantheon Resources $29m placing at 17p: time to close the shorts, banking big gains

By Tom Winnifrith | Friday 26 July 2024


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


I have always been a fundamental bear of Pantheon Resources (PANR) as its assets do not excite me and its management strike me as the sort of promoters who I can do without engaging with. About six weeks ago with the shares at c 30p I specifically and explicitly advised going short as, the company was flagging up a clear funding need. Well guess what?
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