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Yes , a good RNS with caveats.
Looks pretty good value @ 38p
Best of stew
Today
Small amount of shares is good.
Cash & how much yellow?
Best of
The race begins.
Best of
At present .possibly 70p seems fair MCAP .
Best of
Probably we are going to get some news next week when the Final Results for the year 2018 should be posted, together with the notice for the AGM.
It was important to see the level of commitment of Miguens group, not only on the loan agreement (the bank loans probably became inmediately due once the Company informs there won´t be revenues and feasible resources to extract for the near future, so I guess the Company reached the nearest pocket) but also on the advance of Calcatru, therefore I´m looking forward to hearing progress both on the its Resource and Feasibility studies.
On the other hand 2019 is a political year in Argentina, with elections for national and regional governments.
I have been aware by a friend there that Rio Nigro is having elections this weekend and is unclear if the governor will maintain his leadership or other political parties win (i.e. anti mining groups). Let's keep fingers crossed.
Just need some good news. Which is almost certainly going to happen with this wonderful company
Few more yesterday can’t see this going any lower and you never know there could just be ok news after the last 25 rns being bad. Called the Martindale strategy
Thinking about it....... the consolidation was in 2018 not 2016.
ps
of course had you sold in 2016 just prior to the 100:1 consolidation your shares would have had same value as just after the consolidation. The 100:1 consolidation had no effect on the value. They were trading at approx 1p just before consolidation and £1 immediately after.
You could have sold your shares for over £6,000 once upon a time.
Now they are worth between £15 & £25 in total to sell depending on dealing costs.
LTHs have been well shafted here.
Guess I should have sold on 2016. Trying not to kick myself
I for bought some of these shares some 20 years ago as at the time I had some shares in Brancote Holdings via a recommendation from work. I know nothing about shares and have no intention of buying any etc... Why am I posting? In 2016 I had 8365 Patagonia shares. I came across them recently as I had forgotten I had them and saw they were worth over £1. I registered them online as I was a bit short thinking I would sell them. However after registering them I was informed there had been a share consolidation in 2018 of 1 new share for every 100 shares held. So I actually have 83. End of sad story. I have since read up on consolidation so while not being as flush as I thought I was and a little down to be honest, I have learnt something new.
Mads
Your right, the only reason for staying in here is that Miguens is putting in £15m so he must know something that we don't. I remember Antiques of Woodstock who was very informative saying that if he wanted to go private he has to pay at the price of the last funding which was 4.5p. If he did that I would not be that happy but it's better than where we are now. The only thing I don't want to happen is a fundraising at this price because it will revert to the price raised.
Whichever way we go we are either going to lose out at this price or another which hopefully will be slightly higher
is brutal beyond words........ now less than what Humphries as CEO paid for stock on the open market....... BEFORE a 100 -1 consolidation.
gives anyone holding some genuine hope for the future. It removes any immediate financial crisis and gives a bit of breathing space to progress some projects and/or dispose of some or consider a JV.
Bill Humphries presided over the most obscene cash burn imaginable (well over £200 million) with never ending bullish predictions on various projects that ALL turned out to be little more than 'white elephants'. He headed for the exit door citing retirement but leaving the Company on its knees with 2 high cost mines struggling to make any return. It was during his tenure that he was confidently claiming they were on course to be producing free cash flow and 200k ozs pa.
I feel a tad sorry for the current CEO. He's virtually running things on his tod. Compare that to Humphries as CEO with his monthly exec travel between Italy & Canada & Argentina - when he wasn't sat in the Companies swanky office in Mayfair that is.
It's a different Company these days - that for sure. But fair play to CM he's bank-rolled the Company to keep it going when many others would have said "enough is enough". Let's hope he still sees a return on his now massive personal investment in PGD.
I have done my research and the drill results are not good enough.
Meantime PGD has no revenues, increased debts, higher interest payments, financial problems, no operations management, bad exploration results, lack of funding, mine clousure costs and probably severance payments due: PGD has been driven to the perfect storm due to the lack of management since William Humpreys left.
After wrongly informing about the potential of Cape Oste the Company now is holding on Calcatreu, which still doesn´t even have any pre-feasibility study organised and funded for this year.
In case of a succesfull one you then need a bankable feasibility, funding sorted, province permitting, construction and then in 3 to 4 years from now any possible operative income subject to future funding and metals price.
The management has lost any creadibility left by now.
Either this company is going private or is being bought for a song...
detail seemed a tad underwhelming to me. Given that it was as long ago as last May we handed over the final (not insignificant for PGD) payment for Calcatreu. It's taken near 5 months of "limited" drilling to update shareholders how the project is doing. They almost seem to be behaving these days like a Private company.
I think they could be stalling for time to establish what's the best route to go forward.
JV or Placement or take Private or sell some assets to raise much needed working capital.
The problem with companies like PGD is anyone doing the merest research can note that after 16 years on AIM the performance has been a complete & utter disaster. No matter what angle you look at it from.
I hope & pray they finally make a success of things BUT being realistic and not wearing rose tinted specs like some on here......... it's hard to make a case of anything material happening short term to impact on the share price. Quite the opposite.
Well who said the never issue good news - this looks like a blockbuster
What does that mean ? What sort of price for a buyout ?
Someone has just bought 43000 shares after the company bombed out.
If I didn't know better I would say that the concert party are trying to get as many shares as possible so they can buyout on the cheap
It's been a bad week, had no idea the mine was dry, I'm unable to invest in management like this. Sold out for a small lost on Tuesday, I guess I'm one of the lucky one's here!
Was expecting the share price to go 20p. Calcatreu also looks bad, if they had any descent results from the drilling they would have released it first before tanking the share price.
Anyway I've put what remains here into SRB higher mining costs, but 13 million in the bank, a market cap of 24 million and loads of exploration news in the coming weeks. Worth doing a little research!
Or been in touch after last weeks shocking news ? The amount of money this company has raised from investors then they are treated like sxxx!
You haven't missed anything Dj, as usual they are treating shareholders like mushrooms ie. keep them in the dark and feed them shit
Problem is I cannot place a value on the company at present. Currently operations are loss making so imo worthless. There is a future resource there.. any ideas on how much financing needed? The wording in the RNS was way too open for my liking tbh. "The Company is currently discussing future financing alternatives with its major shareholders and will keep the market updated in this regard." Could be a placing.. could be private...could be something else. Anyway sounds like they're begging for cash and a bit desperate. Seems all a bit sudden that production is so bad for me to trust them. I'd have liked to see a statement that pgd needs x million to be a going concern.... if I've missed it please let me know. GLA