Member Info for JohnnyG505

I'm sure the Lender, wouldn't extend the loan if they didn't have that warm, fuzzy feeling that, perhaps, it's all going to come good. It at least gives PRG a little breathing space and, honestly, I'd rather the shares were suspended than be hammered down to 1p and less.

RNS update, what do you think?????

With PM sounding so confident, it makes you wonder just what happened. It's quite possible PM's financiers, knowing that we have a fast approaching deadline regarding the £500k loan, have messed PRG around, deliberately stalling the process, with a view to screwing us for as much as possible. I suppose all we can do is wish him the very best of luck with the ongoing funding negotiations. GLA PRG holders.

I see Lucara's SP jumped 30% today, on their recent 1111 carat diamond find. Found using the latest x ray technology. This may help PM somewhat in his quest to secure financing, fingers crossed anyway.

Lucara want rid of Mothae and PRG want to buy. Funding is an issue and, possibly, the exclusivity period may now be over. Just my thoughts.

Mudis, I don't recall Quindell saying anything about spreadex, but he did warn us that the funding was in trouble, which turned out to be true.

Lol, I was wondering just what happened to catlover.

My thoughts exactly. 500k isn't too much in the grand scheme of things, crazy to go under for what amounts to a fortnights wage for a top PL player. Accepted that there are other loans/debts mentioned.

Quindell, I only hope you are right. I also owe you an apology. I was pretty 'caustic' with some of my comments when you first posted about funding problems, looks like you were right, sorry fella.

You make your mind up....... 17/11 GMT 12.33 Lucara Diamond Corp - LUC:SAX - LUC:TSX - Mothae Kimberlite Mine I belive the deal is off the table ie LUC retains Mothae. As to what happens to Paragon well thats of less importance to this site.. LUC does however have a number interesting options to consider. In this Paragons identification of further value in the resource for instance.. http://www.greywolf.se

Well I remain eternally optimistic that something can be sorted. Even if it's just Lemphane and share dilution.

So how long can they keep the shares suspended, any idea anyone?

As previously said, PM has a lot of money invested here, if this goes under, not only will he look like a proper **** but he will have lost some serious dosh. It's this fact alone that makes me think he'll manage to sort something out. Surely his brother could lend him a few quid ;-)

What absolutely astounds me is that Manduca has taken PRG, from having funding all sorted on Lemphane with an expected time frame for the commencement of mining to one where it's almost the last one out, please turn off the lights. Either he turns this around or this is one ******* expensive lesson for me. Ah well, I'd only have put the money on some other donkey.

The thing is BBN, Manduca has been giving these interviews, explaining how he sees the future of diamonds, how it's going to replace gold, etc, and he's also due to speak at the forthcoming Mining Investment Forum, yet he can't even get the finance sorted to get his own mine into production. I would say that leaves him with no credibility whatsoever. I do however, think he's done the right thing with suspending trading. If he can sort it out then great, at least we're all still with a fighting chance. Personally, I still feel he can turn this around. He might have to eat a lot of humble pie, and clearly take a much worse finance package, but, long term, with both mines in production, there's still an awful amount of money to be made from Lemphane and Mothae.

Whether he gets a better deal or not, all he has succeeded in doing so far is destroying the SP. Makes you wonder if that 500k loan has been used on something else, rather than keeping the SP up. The thing is, whilst we may get a spike if the funding deal is a good one and we actually manage to purchase Mothae, until production begins this SP will continue to fall. Look at FDI, fully funded for phase 1 but with production yet to commence, their SP continues to fall. I sometimes wish PRG had actually got Lemphane into production first!

Manduca doesn't help by always taking it to the wire. One might think that, if there were no problems with funding, it would have been sorted by now with an RNS issued, but with no RNS, the scaremongerers are having a field day. My confidence in Manduca leads me to believe all be okay, eventually, but, with his track record, I can see another delay. He seems incapable of meeting a deadline.

BBN....."Or am I showing too much faith in the board".........I feel the same as you. I initially bought into PRG when PM became involved, he can certainly talk a good game. Then came the constant moving of the goal posts, always to the right.....one delay after another, yet I remained totally confident in PM. I dismissed that nagging voice, in the back of my mind, the one that started to question if PM could pull this off, had he bitten off more, etc, etc. So anyway, here we are.........no confirmation of secured funding, yet I still remain confident that PRG will be a multi bagger. We desperately need a good news RNS, ASAP, and the commencement of actual mining. GLA.

Possible tree shake from the MMs, who want your shares at a knock off price. Also the sudden drop probably kicked in a number of stops, resulting in more sells. But I think the over riding concern is, as usual, PM is taking the funding news to the wire. This has spooked small PIs, who have sold, probably at a loss, whilst also fueling uncertainty in the market. PM needs to pull his finger out and sort funding news. If its anything other than good news, we won't need to worry about shorters, dragging the SP down, PM will have done it himself.

With some panic selling has allowed the MMs to cream in. Only one reason why they want them so cheap, to make a killing, so I expect the SP to jump in the very near future. That said, lack of news from PM has not helped things........but did we ever expect him to release news early though. At this rate though I might have to remove him from my Xmas card list :-\