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Can't understand the fall in the share price considering the offered price per share, am I missing something? I was considering loading up on shares to take advantage but doesn't seem like others have the same idea. Does anyone see reasons not to load up now and sell on the day?
Thanks for the info mads. My documents have yet to arrive, seems like it helps to have a friend at Barclays!
Actually it does say. Page 19.
CvT will remain CEO of new Company. CM and CLS will stay too.
GT & MdeP will leave. With compensation for all their hard work & success they have brought for shareholders.
I couldn't see owt hl83. There's only currently CvT that's an exec Director. The rest are all part-time non-execs. I suspect they'll all stay on. Now we know why they never replaced the longstanding COO (Matt Boyes).
Looks like it's all about Hunt's Martha processing plant currently operating under-capacity being able to do something to make Cap O profitable and with the cash flow generated they then use that to fund Calcatreu.
Had to roll my eyes in suspicion about the reason given why TSX and not AIM saying that it is difficult to attract & retain interest in activities and as a result there's low trading volumes. From what I can see Hunt shares price is on the floor and no shares traded in past 7 days. Not a single one.
I guess they still have office, maintenance and security staff still on the books, but 90 employees does sound like a lot. Even if they are still exploring and drilling in Calcatreu.
Also it would worry me if PGD's management got to stay on, given their past performance. Is there any indication in the paperwork of who will make up the board of the new entity?
Hightrack, you can copy and paste the following into a message or email to HSBC.
"Hello
Patagonia Gold (PGD.L) has received a reverse takeover offer from Hunt Mining Corp (HMX.V) which is listed on TSX-V. If the offer is accepted, which is expected, then I will be given new shares in the combined entity (PGDC.V) which will be listed on TSX-V.
Details of the offer can be found here: http://www.lse.co.uk/share-regulatory-news.asp?shareprice=PGD&ArticleCode=scgy9r3a&ArticleHeadline=Offer_for_Patagonia_Gold_plc_by_Hunt_Mining_Corp
Please let know if I will be able to hold and eventually sell the new shares through my account."
Also feel free to post their reply here if you need advice.
Hi - you really need to speak to HSBC. Not listen only to any advice on BBs. I hold certificated shares so I'm confident I am not affected as long as they send me replacement certificates (which there will be BIG trouble if they don't LOL).
I received all the paperwork for the Scheme of Arrangement through the letter box this morning. FWIW am sure they are not out to shaft you. Well, not entirely anyway.
Am still recovering from the shock that PGD say in the paperwork they have 90 employees based in Argentina. I honestly thought they were down to the CEO and a skeleton staff. ***k me - what have 90 employees been doing for past 6-9 months???? Certainly hasn't been producing any gold or any revenue. No wonder the cash burn has been off the scale over the years. Must be £250 million by now.
Hi how it will going to work? Are they gonna sell and give our money back if so than I will lose 86% of my hard working money. Or they gonna transfer our shares in there plz need help as my broker is HSBC
Unfortunately I've had more than my fill of delisted companies.
The PGD thread on ADVFN will stay for ever. Regardless of the length of time delisted. They definitely won't take it down. It'll probably stay here too on LSE. But in both cases only under the present ticker PGD.
Not sure if either PGDC or HMX will appear as a new thread on either site. Maybe more likely on ADVFN. You'll certainly be able to put PGDC onto your monitor with ADVFN to watch it soar back to £70. If only.
Thanks, I hope so. I tried to post it here as well but LSE was down for a while yesterday.
Where will we all go if LSE takes down this page once we are delisted??? A Canadian discussion board??
Just seen your post on ADVFN about Barclays.
I should have added to my original comment that I hold certificated shares. The person I spoke to at Barclays was a friend who works for Barclays Stockbrokers in God' country.. Cuts out having any difficulty making yourself understood to a call centre in India.
Good info/advice you posted. Even though I don't think/hope it impacts on me.
Looks a pretty decent stock all Be it near an all time low, but the combined business could be very lucrative!
Thanks mads that is encouraging. I'm also with Barclays, they said something similar to me but put me on hold to check with the corporate actions team, and when they came back said that they would need to confirm once they had seen details of the official notification. Hopefully we will be fine though.
According to kirk6 on the other place, IG and Plus both facilitate a switch to TSX.
However my advice to anyone would be to DYOR and check with your broker.
Haven't had a chance to check out Hunt Mining, does anyone know much about them?
I spoke with Barclays and they said they couldn't envisage any reason why my shares couldn't be traded after the deal is ratified and stock trading on TSX.
It works out as 72.7p
I just called my broker to see if I will be able to sell the shares once listed on TSX, but they said until the corporate action is officially announced they can't say for sure.
Has anyone spoken to their broker regarding this?
The offer seems fair but what happens if we can't sell after the new listing??
Are they gonna give us only 76p a share am I right????
Is someone buying Pgd company for each share 76p ??? Can someone tell me
Maybe closer to 68p .
Best of
Offer 76p?
Shortly at this rate
Looking similar to when this shot to £1.50 in jan / feb. Need some progress update to give it a push
Agreed let’s hope the gold prices rises. This could still come good and nothing much to lose at 40p.
They said it was put on care and maintenance due to costs exceeding revenues, so if the gold price improves it may become a viable operation again. Plus they are still looking at how to get to the high-grade deposits beneath the open-pit, which is presumably viable at the current gold price.
Is there any possibility that cap oeste may re commence operations any time?
How these tenements gave PGD a value of £30 plus on occasions .
Defies belief .
At today`s MCAP .PGD looks great value .
Best of