Very simple rebuttal to this...a resource company that is very low has a chance to be purchased very low. It's a win for recent shareholders but a loss for long-term shareholders and more importantly our country (Canada). For PFC, the argument is less strong because we're talking about Aussie lands, but let's have Opti Canada as an example. When they went belly up, the Chinese bought access our oil fields for a song and paid only 12 cents per share plus the debt when at one time the equity value alone was worth more than a couple times the debt.
For PFC its not really our concern as Canadians who buys the land. But Canadians were heavily involved in the investment and are once again letting the market take advantage of them as most have heavy losses. Its a poisonous hazard within our markets that GREATLY undervalues our land and the foreign land that we invest in. Hopefully PFC doesn't get bought out at this stage and instead moves back up after successful news so it can be bought out at $2+ or whatever the fair buyout rate is. But it is conceivable that someone could swoop in and offer 50 cents right now while these results are pending. And they could be successful because enough shares have churned at these low prices where they could build a significant yes vote.
Of course from my perspective as an investor its great - give me a chance to buy low. I decided to take a run at 26.5.