Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Same boat! PM was certainly convincing in all of 2014/2015. How the hell did it come to this? For @&£) sake - he's sopposed to hold 67m share so he can't allow it to fail Best of luck all
If this goes down the pan, as seems quite likely, we should remember how convincing PM was.Now I think what was I doing investing so much in such a risky co.But when you re-read this article you can see how we was all drawn in.Also you can't help thinking if all that is true he must be worth millions in his own right.If he is that convinced of the investment you would think he could find the money somehow! http://moneyweek.com/philip-manduca-forget-gold-diamonds-are-the-best-store-of-value/ GLA We were not fools, just misled if this goes down.
The email address for Paragon is no longer valid! The disregard shown to shareholders is nothing short of scandalous. Only learning outcome from all of this is to stay clear of any future companies with PM name attached in any form. GLA,
The deadline from the Lesotho must be up by now.Surely the Co will have to tell us if Lemphane has had its licence revoked as effectively the co will be finished.It will be a disgrace if we have to learn via the Lesotho Times or some other article.This lack of information is very worrying and I do not hold out much hope now.I see the guys on ADVFN are getting very negative also.I think we need a miracle now.For someone who was meant to care so much about shareholders and preserving value PM has a strange way of showing it.Such a let down.GLA
I must be having an optimistic day. Clearly the Lesotho government want both Lemphane and Mothae in production but is there anyone else interested? If there is, and they have the money, then we're done for. If not, there's a good chance PM could get them on the cheap (really cheap). Today, I'm feeling this has still some distance to run, that fat lady is not singing just yet. GLA.
It is good to share concerns/any info etc.It is some comfort to know that there are a lot of people in the same worrying situation.The longer this goes on the less chance of any good outcome I would think.According to the Lesotho Times the deadline should be up so we could hear something soon.I must say I fear the worse now but really,really hope I am proved wrong.GLA
Hi Guys, I would recommend that you write to the company email address marked for the attention of PM, this is what I did last summer. You have to remember the team are feeling a lot of pressure and how you correspond will have an impact on the likeliness of a reply. As suspected PM is not letting guys like me know solid information while keeping it from everyone else. The gist is he is doing all he can and is confident of a good result. If he does secure solid funding in this environment its purchasing power is massively stronger now than 2014 so if we get through this it could be the perfect time to be deploying capital.
There seems to be a few people having contact by email with the company, If you can could you please post a summary of those emails on the BB's so that other PI's can see what is being said, it may stop a flood of emails to the company and let the BOD sort this out a bit quicker. many thanks
Hi confounded, Thanks for the update.I assume it was a general 'still confident' type email rather than any specific detail.But at least it shows some little hope.It would be a good idea if they updated the website sometimes! Let's pray for a miracle!....GLA
Have not tried ringing yet,but no reply to emails.Not aware of anyone else getting anywhere either.To be honest given the current carnage in the markets/negativity about the world economy its hard believe we have any chance of pulling this off.If the story in the Lesotho Times is true then the deadline must be up now/very soon.The way it is going we will likely learn our fate from the Lesotho Times rather than the co.I am convinced we will be wiped out here now.On top of all the other massive losses, this will be the final blow.What a nightmare!! GLA we sure need it.
alexia93 I am not sure you have seen this story.That is what prompted further discussion/concern as it seems an important but not good development.http://lestimes.com/ultimatum-for-diamond-mine/ Yes AIM and even any share has some risk but I don't think anyone saw how risky this could be, given the credentials/convincing plans that PM had.GLA
I know on the other BBs, there's discussion about paying the necessary brown envelope fee ;-) just hope we get the finance as, I'm beginning to think, we could get Mothae at a snip, which I think PM realised quite a while ago.
You are right Johnny! However if the Gov't are in such dire straits and PM is serious about having funding, then are they really in a position to throw away such a good offer. There would not be many/any other takers so they would be mad to refuse.That said it sounds a mad place.Maybe PM underestimated how African countries operate as well as how hard funding would be.It may just come down to a good old fashioned 'Bung'.I really fear the worst for this but really need it to come good like we all do.PM somehow made investing in an African diamond mine 'safe' but it clearly was not. [That said GEMD seem to do ok there] GLA
TBH, I'm really not sure if I'd want to transfer that sort of money into Lesotho, I'm not saying it would disappear, but it would probably just not appear ;-) The year 2020 is mentioned, would hope to hear something before then ;-)
http://lestimes.com/lesothos-2016-economic-outlook-bleak/ Just read this,gives an idea of the sort of chaotic place they are dealing with.[Although they should have known that for a long time] so you can imagine nothing is easy.You can also see someone might be reluctant to transfer $12m into a bank there! It is interesting that our pot 2 mines are mentioned saying he[Minister] is determined to get them in production.Seems pressure being put on the minister hence the sudden ultimatum.Not sure if any help to us but gives an insight as to why nothing straight forward..GLA
Well I've sent two emails to Hugo, asking about this $30 million funding, and not had one reply. As much as I want to, I'm finding it extremely difficult to keep my faith in PRG. I remember when PM took over, the constant stream of RNSs, the video interviews, all looked so good. People on here, and myself, all applauding this fantastic CEO. I did question myself if it was all too good to be true and, sadly, it looks like it may have been. I'm hoping PM is just playing real hardball to get both Mothae and Lemphane at a ridiculous knock down price but fear he's just as we all thought, all talk and no walk. GLA.
Hi Guitarsolo, that is a good email but as you say not sure if will reply.It is getting very worrying and with no news it is only natural to fear the worse.These boards can be quite effective to keep in touch/share any info etc.Without news its hard to know what any next step would be if any.Unfortunately if they do go into admin/liquidation it is unlikely we would see anything action group or not .Afren still have a shareholder action group but even there the debts far exceeded the assets so very unlikely shareholders will see anything even if win a legal challenge.Not sure if anyone else has any ideas.This really is a sorry mess and financial worry for us all.GLA
I have just consulted the PRG website and note there is still no update (since November!). I am getting to the point of finding it unacceptable. I have therefore just sent the following email via their website and expect a reply. To my mind, they could rustle up a statement for the website in less than an hour, given that there is no NOMAD to consult, and given that PRG is no longer traded there are far fewer restrictions about what a private company can say to its owners. -- Dear Sirs, It has now been three weeks since PRG was de-listed from the AIM and shareholders have not received a single update either by post, email or even a statement on your website. Given that the de-listing, which shareholders were not consulted about, has removed your easiest avenue of issuing an update (via a RNS) the least you can do is provide a statement. I am sure PRG management are working hard but it is important to update the owners of the company about developments, particularly when they have been as concerning as recently. If you fail to do so, it is inevitable that supposition and guesswork will begin to take the place of genuine information. That can only be detrimental and can be averted with a short but informative update. It shouldn't take long given there is no longer a NOMAD to consult. Yours faithfully --- Chances of a reply? Slim I fear. Do we start to be more demanding? I am getting that way. Does anyone have any experience of listed companies delisting or going bust in this way? Should we be forming an action group or at least have an alterative way of contacting other shareholders? I'm not a frequenter of chat rooms or similar online groups so would welcome any suggestions! Guitarsolo
investment grade diamonds have not been falling despite the bad overall market over the last few months.
http://www.cnbc.com/2016/01/13/invest-now-diamond-producers-get-thumbs-up.html Bit more optimistic outlook for diamonds although is hard to believe in the current conditions.Meanwhile all we can do is wait and pray!!.GLA
Hi Guys, good to read all your comments and theories.It helps to know there are others in the same situation,and to talk things through.I think what makes it worse is this has come at such a bad time,having took massive hits on other shares already.It is hard to be anything but pessimistic in these difficult times.I fear what tomorrow will bring for the markets.With regard to this it all really comes down to if PM actually has the funding or not.If he has I am sure a deal could be done...but it is a big if!! .Johnny my portfolio is probably worse than yours!! I was hoping this share would save me but it has turned out another nightmare!! GLA we sure need it.
Johnny, I think there are a lot of us in a similar boat. A lot needs to go right for me to pull out of the whole I am in, but none of it is on margin just saving down the drain. If PM achieves what we are all hoping for a 2 year time frame could easily see another zero to our current frozen holdings. Risk reward is still there.
K168, thanks I will look out for it, it does seem odd how so times it just won't pull up PRG info when I search for it.
Mark, I've just spent the last hour reading the ADVFN BB, some good stuff. I liked the conspiracy theory of firms creating multiple avatars and posting on these BBs, most suspicious ;-) I too showed my wife videos of PM's earlier interviews, in an attempt to justify my potential £24k loss, didn't do much good. My portfolio is in tatters at the moment, lost a stack on PMO before I got out at 88p. Could have been worse, they've just suspended their shares at 19p. Not a great time for the stock market at the moment but, when it turns, some great bargains to be had. GLA, not just with PRG but in all your shares.
Hi Mark, FYI - Holeefook created a topic for PRG in the event that this bulletin board is removed indefinitely that can be access under the 'Share Chat' / 'General'. People can continue to post there as a plan B. All the best K