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I called yesterday and nobody there , and I called earlier today and nobody there , and the girl at their serviced office in Mayfair said they have left for their holidays ! Their number is 0207 182 1900 .
Have you tried to call them? They are available...I've spoken to them!!
The only entertaining element of this will be watching how PM attempts to spin this outcome after all his previous rhetoric and general bluster !!!
I think the clue to what is going on , is that if you ring the company, there is nobody at all there ! And you are told that they have all left for their holidays !! Talk about rats leaving a sinking ship !! Disgraceful , not being available to talk to shareholders at a critical time like this , in my view ! If there was any last ditch attempt to resolve this mess , you would think someone would be in the office , and not broken up early to enjoy their Xmas on the salaries we are paying for ! I expect an RNS soon , assuming they are not too tied up Xmas shopping !
Maybe sentiment towards the diamond sector is improving GEMD PDL doing well today.If only he could have sorted all this out as he said he could, we may have been flying.Seems no hope now of avoiding de-listing.Such a shame.GLA
you are wrong chauvelin get a new nomad then they can come out of suspension if they choose to although I expect if they get a nomad without funding they will stay in suspenion a tad longer to close out funding.
I think we need a Christmas miracle now.Not looking good.It is ironic that PM previously stated he would be disappointed if the share price was not in double figures by the end of the year!.It maybe his determination to save the share price that results in us being de-listed! This like so many shares lately has been a huge disappointment after such high hopes.Go on PM prove us all wrong.......GLA
Not much point getting a new nomad without the finance in place ! This BB will disappear in a week or so I expect without a listing .
cutting it really fine, 3 days to get a nomad.
It's an agreement between the company and the lender . But the lender has nothing to go for here as unsecured on anything tangible . And without a nomad we get delisted . Huge mess all round ! PM has not covered himself in glory !
.......my point is short is: Is the 30 days consecutive suspension an AIM rule, or just an optional agreement between the lender and the company?
Shareholders should note that should the Company's shares remain suspended for 10 consecutive trading days from 16 November 2015, or for more than 30 days in a calendar year, an event of default can be called by the Lender.====================== I imagine that the worst outcome for shareholders, would be if the loan lender would proceed with event of default, in this case i suppose we would loose all the money ?! Anyway this condition of 30 days consecutive suspension period, looks like has been introduced with the renegotiation from the loan in to convertible shares at 5.25p..... Excluding any conspiracy theory, the lender, realizing that the only alternative to salvage some cash from prg was to be patient, chose the convertible option. Now what advantage would get the lender to call a default on the 30th day? none i suppose, it would be back to square on..... Is it possible that Christmas will go by, with no news and maybe comes the new year we get a rns with financing or funding rise via shares?
I doubt they will get a nomad on board without funding in place , they will automatically be delisted I'm afraid . They will then continue to seek funding and if they get it , will then reapply for a listing in my opinion . They will also try and buy Mothae if it's still available . PM has completely messed this up by trying to finesse the whole deal too much in a difficult financing environment and run out of time , and also the patience of the previous nomad !
moment of truth coming up if they get a nomad in time good luck
http://www.diamonds.net/News/NewsItem.aspx?ArticleID=54132&ArticleTitle=Paragon%E2%80%99s+Deal+With+Lucara+to+Acquire+Mothae+Mine+Terminated Bothing new here apart from the email to Rapport News element. Somebody is interested in Mothae. The question is is, is it Paragon or another party?
Barring a miracle , we will automatically be De-listed I'm afraid. Not a great Xmas present from our board ! We will get an RNS next week with the usual , still pursuing funding and Mothae , but slightly delayed line I imagine.
Well could be a nomad and funding via a placement announced on the 24th this would probably be the best outcome shareholders could hope for let's face it who will be watching the markets then. I believe that de listing is not a good option as raising finance must be easier for a listed company. I would rather stay listed but diluted. I wonder if it is just coincide that the new nomad is required by the 24 or a thought out process to enable news to be given when everyone is too busy\drunk to take notice... Time will tell
The likelihood of getting funding and getting a nomad on board prior to the 24th is incredibly small ! Maybe some time next year PM will be back telling everyone how clever he is again ! Let's hope Mothae is still available then !
yea agreed for some reason he has not closed out the countless funding agreement we PRG had and has a made a mess of it. Mothae has been a rosey thorn in philip manduca's backside. in my opinion it all comes down to the nomad coming onboard in the next 6 days, cutting it thin but it is possible. once the nomad is in place then you can be confident that they will come out of suspension sooner or later.
Sam , incidentally, we have seen the complete opposite of him showing that he has the capability of obtaining funding ! I've lost count of the number of RNS statements issued re funding that have not materialised ! This debacle will drag on until well into next year probably. And we may get funding eventually, but possibly not Mothae to spend it on , just Lemphane. PM has made a complete mess of it so far !
Although he always seems to be described as a Financier , if you look at his actual cv , he is not and never has been a financier . He was a fund manager principally , and has no experience in this type of venture . This may explain why we are where we are . The overwhelming balance of probability is that we will delist , and then continue trying to raise finance , whilst reapplying for a listing on Aim . It's a massive disappointment and his breathtakingly bullish interviews are something to avoid watching again at the moment !
although he is a financier he is very new to the diamond 'scene'. We have seen that he has the compability of getting funding but his whole, I want more attitude, has seen him fail to close the deal out. Good in the sense that he wants to protect shareholders but it has left is an awful spot. That would a final kick in the teeth if he does let this delist because then the protecting shareholder value front would be a joke.
Noujay good example about Botswana placing of today. I note that it was a private placing and that the sp didn't dropped dramatically, indeed the placing was at current market price. Now if Botswana can find cash for working capital, I am 100% sure Prg can do it as well. Interesting comment of late from this board, about the possibility that we have gone in to suspension, awaiting finalization of funds, and that Northland resigned because no fund was rise via placing. Out of all conjectures it is the most optimistic, and the one I am hoping for. The only factor that goes against it (I am sorry for been so negative) is that the man PM is a financier, he must know a lot of fund managers and banker and yet after more than 1 year !? he hasn't managed to find a poultry $15 mil to kick start a mining project, that on the card look so profitable..... I work in catering and funny enough toady I will be serving a Christmas Party at the private house of Sir. Rothschild, not going to specify whom........so tented to call the man in one corner and ask....please Sir. do you spare $30 mil for two mining project? The thing is beside the outcome, I wouldn't do that just to salvage my shares, when we have a CEO paid handsomely supposed to do that. Anyway hopefully all is well and comes 2016 we will be trading at 10p with cash at bank, starting our diamond mining projects.
I was referring to a placing for purchase and phase one which would by definition be big