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  5. PNPN: This stock has been on a bit of a run in the past month. [Power Metallic Mines Inc.]
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Q: This stock has been on a bit of a run in the past month.
Your Thoughts?

Thanks,
Chuck
Asked by Chuck on January 28, 2026
5i Research Answer:

Up 24% YTD, market cap is now $362M. Cash is $31M. As a developer, it has no revenue, losses and negative cash flow. is a Canadian junior exploration company focused on its flagship Nisk project in Quebec, which hosts high-grade polymetallic deposits rich in nickel, copper, platinum group elements (PGEs), gold, and silver. The project features elite orthomagmatic-style mineralization, comparable to only about 20 such deposits worldwide, known for exceptional profitability and longevity. The Nisk property spans roughly 213 km² after a 350% land expansion via claims acquired from Li-FT Power, now covering key targets like Nisk, Lion, and Tiger zones along a prospective corridor. Lion Zone stands out with near-surface high-grade intercepts, such as 39.6m at 4.19% CuEq (including 2.62% Cu, 3.37 g/t Pd) in hole 71 and recent extensions to 600m depth. Recent metallurgical tests from Lion showed outstanding recoveries: 98.9% Cu, 96.8% Pt, and 93.9% Pd into a 25.8% Cu concentrate. Power runs one of the most aggressive drilling programs among juniors, with over 20,000m completed (aiming for 24,000m by late 2025) using four rigs and advanced borehole EM tech for 100% hit rates on sulfides. Management targets 1M+ tons of contained metals (from current 300-500k ton estimates), driven by favorable metal ratios and plans to connect Nisk and Lion zones over 5.5km. There is potential here, but more time and money will be needed and it should be considered speculative.