Still have the trade on. Needless to say, this hasn't gone as planned. Started out as a ~6% position, grew into a ~25% position (price moves plus further purchases) and today stands at ~3% of my portfolio. Only ever reduced position by small amounts.
The company has failed to deliver operationally. Now they're going to be out of money - and credibility - while financial markets are much less open for a company like PANR to raise. Big dilution likely ahead. That said, the signs were always there and I was aware of them. Because the reservoir/asset always seemed v promising, I chose to be long. Thesis could still materialise but likely capped at lower level and at ~3% of my portfolio it's not all that relevant anymore.
Will write a more in-depth update in the coming weeks I believe.
Please do so. Your input is very valuable. Various discord channels appear too bullish to me given as you say the access to the required capital to prove out the thesis is punishingly expensive
What do you make of the latest developments at Pantheon? Do you still have this trade on?
Still have the trade on. Needless to say, this hasn't gone as planned. Started out as a ~6% position, grew into a ~25% position (price moves plus further purchases) and today stands at ~3% of my portfolio. Only ever reduced position by small amounts.
The company has failed to deliver operationally. Now they're going to be out of money - and credibility - while financial markets are much less open for a company like PANR to raise. Big dilution likely ahead. That said, the signs were always there and I was aware of them. Because the reservoir/asset always seemed v promising, I chose to be long. Thesis could still materialise but likely capped at lower level and at ~3% of my portfolio it's not all that relevant anymore.
Will write a more in-depth update in the coming weeks I believe.
Please do so. Your input is very valuable. Various discord channels appear too bullish to me given as you say the access to the required capital to prove out the thesis is punishingly expensive