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Is there still a Shareholder association, I had emailed a few weeks back and I have not received a response?
As mentioned previous with the likes of GEMD interested our chances may not be good.It all comes down to if we have finance or not, which has been the problem all along.We may find out our fate sooner rather than later as you say by the end of April maybe crucial.Things do not look good here but all we can do is wait and hope something can be salvaged.. Re-listing only seems like a dream at the moment.......GLA
lestimes.com/mothae-mine-sale-at-advanced-stage/ I take it the silence is due to bidding for this and therefore make or break by end of April?
Is this ever going to relist? When do people see it relisting? Why no news flow other than a shareholder meeting where it seems people are sworn to secrecy? Deals were suppose to be in place Sep/oct and its now nearly April with no news..
Happytom, I'm sure GEMD could buy Mothae from petty cash ;-) they must be back to 200p in the near future
Mate, I'm with you and, despite my complete and utter loathsome of Manduca, appreciate he's our only hope. Clearly texts have failed in the past so perhaps he should up his game and use WhatsApp ;-)
Indeed.I also hold a fairly large investment in GEMD but unfortunately also one in PRG .Buying more GEMD could be a way of trying to recoup some losses here.[GEMD are also paying a good dividend] How ever unlikely PRG will come good, it is not over until the fat lady sings.........GLA
Holeefook, my mistake mate, but i feel the meeting was held for one reason alone, and it has nothing to do with the Shareholders, the same Shareholders I believe Manduca himself referred to as "Them". Personally, I'd love to see Manduca in a court of law, whether or not CS's class action comes to fruition or not waits to be seen but, let's be honest, GEMD, a multi million dollar diamond producer against PRG, and their texts (laughable) confirming they have funding, well there's only going to be one winner.
Maybe not all is lost then - buy GEMD! I have a rather larger interest in GEMD than PRG, and have long held the belief that they are under valued, if they add another potential 1m carats to the portfolio for the same sort of price as PRG were trying to raise (an amount that they could pull out of their current account by the way), then they will keep on moving up. I wish no ill on PM, but it seems to me that for the price, if the reserves are anything like accurate, then he should not have struggled to raise the couple of million that he was after - I'm very surprised that he didn't come back to the existing shareholders, even to the point of being suspicious as to why he would not?
Hi Johnny,I think Matt meant why bother holding the meeting,but anyway I agree things do not look good.But it is maybe a case of 'false hope is better than no hope'.We all really know the likely outcome here but it is only natural to cling onto any tiny glimmer of hope.Until we know for sure it is over PM is all we have got, even though he has failed us all badly.Don't be too hard on yourself, we all fell for all the talk/plans just like you.It all seemed very doable/ and likely a great investment at the time.PM will lose big too so if he could do anything he would..GLA
Matt, both you and I continually questioned Manduca's failure to deliver. I hold because I can't do anything else. Believe what you like but, in 2 months time, I believe more people will be signed up to CS's class action than the SH Association that, in all honesty, whilst its intentions were wholly honourable, has become nothing more than an extension of Manduca's PR arm. Any association that runs its news letters past Manduca in the first instance is completely deluded and destined for failure. I am completely embarrassed that I fell for Manducas waffle, but I feel more embarrassed for all those poor saps that think he can sort this. When GEMD have Mothae, and Lemphane is handed back, what will we have then? More empty promises.
But why bother holding it then Johnny? I honestly believe PM is well meaning and acts in a way he thinks is best, but unfortunately, he has misjudged the situation and made poor calls. It happens.
As far as I'm concerned, the meeting was just a sham, I don't believe there's anything in the pipeline. Simply a delaying tactic by Manduca.
Yes guys not looking good at all.The recent meeting although well intended may of just given us false hope[not that I went] .It is probably best to prepare for the worst and pray for a miracle!! .This does prove however that Mothae was a valuable/sought after asset,which begs the question why did no one seemingly want to finance it before? With regards to Lemphane we still do not even know what the real status with that is.When you see the recent results from GEMD you can see there was massive potential here if had of all gone to plan.You can see how we all got sucked into it .GLA I fear we are going to need it.....
Indeed! Just Lemphane left then (which is what they should have focused on from the very beginning!!)
Getting close to the end of a painful journey with a final injection of pain! http://lestimes.com/mothae-mine-sale-at-advanced-stage/
totally agree. been bowled over by the talk too many times only to be fleeced . all the best to you
An encouraging post I agree, although in my view, it attributes way too much credit and credibility to PM given the last year. After all, none of us ever doubted his ability to present and persuade - it's the main reason most of us invested. It's his ability to deliver is the issue, and it's difficult to give him any credit at all on that score.
Hi Johnny just seen this.Thanks for the link,certainly a good read for any worried PRG holders.As you say we need more than just talk but lets just hope something can be salvaged.I don't doubt PM is doing all he can to try to sort this but the longer it goes on the more worrying it is.GEMD have results tomorrow, maybe that will give some insight to the current market price/sentiment for diamonds at the moment.GLA
For those people who didn't get to attend the meeting, there's a great post on discussthemarket that, whilst giving nothing 'confidential' away, does give a personal insight into the meeting. Some may take heart in what Pharma says (and I thank you Pharma for your post) but, personally, I have no faith or trust in Manduca.......I still think it's a lost cause. He can clearly talk a good game, we all fell for it, funny how the financiers didn't. https://www.discussthemarket.com/company/prg/stream/1/
the Lesotho mining minister Mr Thotanyana and a bank manager were as amenable to big Phil's charm as the Walsall 37. Your silence is admirable The serious point is PM the right man for sensitive negotiations ? Is there any alternatives in Paragon team or are they all yes men? I suppose we have to act like Brazilian football fans prior to last world cup "In big Phil we trust" (just hope we don't get Germany in the semis) Fifer
Should we ever be relisted, and you get the chance to sell your shares, you'll certainly have to post your certificates and I'm assuming to your registra. I need to sort mine out too as I've just received my second lot of share certificates from HSBC, this time for the ones held in my ISA. What a complete cluster **** this turned into. Good luck mate.
I've seen my name mentioned a few times on here. Sorry I don't comment much but I have a day job as well as coordinating the SA and I don't have time to be on here and the other place a lot. If anyone wants to join the SA, email me at paragon@73east.com, with your username, real name and number of shares. You will then get the "back catalogue" of all correspondence, good bad and ugly, and make your own mind up about what's been going on. Cheers CS
Humzer, do some digging now. Speak with HSBC, they'll let you know the best way to sell share certificates. Failing that, pop into your local branch, they could make the call for you. I know you can also sell them through the Halifax. TBH, just Google How to sell share certificates. Good luck mate.
I agree with the last few posts.Although frustrating Barry had no choice and we should thank him for all the effort he has put in.I hope the Shareholder Group will continue as it can still be helpful.My take on all this is there is no solid good news[i.e funding in bank etc.] but still an ongoing situation with some glimmer of hope.I think because PM is quite a high profile figure and after all the publicity he gave prior to it going pear shaped ,he does not want to say anything until it is completely nailed [or completely over] I will try to contact the co as suggested but even then do not expect too much info.GLA