Member Info for Jonmo91

What does he gain from doing last minute scheduled interviews while the drill is still being sorted out in Morocco?
A sudden need to inform investors when three weeks ago he wouldn’t announce the spud date?
He must be busy as **** at the moment.

If one’s needed it won’t be 2p. You were saying 4p yesterday!

The MMs are treating it like one because of PGs governance.
13th Dec said a fixed spud date coming. Then released RNS saying no date. Most on here saying it was because of a bank holiday weekend, turns out that was wrong, just didn’t tell shareholders, wasn’t a problem for MOU1 regarding partners.
States next communication when TD reached. Next RNS no TD reached due to technical issues and an investor presentation planned for next week.
It smells like a raise and that’s all the MMs need.

I don’t know, they may still have the means and a raise not needed.
Also, they are testing MOU1 now which may aid if we do need one.

Cut through the noise of the traders, both sides are at it.
PG planned for technical contingencies around the drill following what they encountered at MOU1, but it’s also his job to have financial contingencies.
They wasn’t expecting what they encountered at MOU2, that can happen.
The drilling team will know how to deal with it to get to TD. So why the excessive price drop. The city thinks there is a raise coming and if you need money quickly they’ll hammer you.
The investor presentation the same day as an update suggests a raise is coming.
PRD either don’t need one and it’s all good news and those who held or bought at these levels will be vindicated or a raise comes. Should that happen, the history of this company and the general market conditions suggest it will be at a discount. That would be highly dilutive at these levels and would have shown a lack of financial contingency.
We will know more next week how they are going to proceed.
My view is it’s a financial challenge over a technical one at this stage.
Even if there is a raise and PRD discover what they set out to do in Morocco it will be worth a lot more than 5p per share. They need to stick with Morocco now, no bait and switch Wednesday dangling TT or Ireland.

PG will loan his own shares again, with interest, for the headroom if need be.

I only read boards I’m invested in, 2.5 years I haven’t seen you post until this drop. You are the last minute trading people turning up you’re taking about.

I’ve never seen you post here. When did you turn up?

MEM or anyone else know how long MOU1 testing likely to take. Would they have the results by the presentation or does it take longer? Cheers

If MOU1 testing gets us back to the teens it will beg the question as to why it wasn’t done sooner. It can’t be cheaper to run both at the same time if there’s been raises in that time (that were always going to be needed for drilling)in single digits causing more dilution than might have been.
Also he backtracked on 13th Dec RNS and didn’t give a spud date. Next due was TD which wasn’t reached. If it was a few days to sort why inform the market when they didn’t have to.
I’m not sure they are going back in imminently. PG words RNS poorly as it is but the investor presentation coming out the same day looks like a raise is coming.
It is what it is. They will go in at some point to get it finished.

Investor presentation coming out today with all this going on looks like the bowl coming out. If drilling and testing was to resume imminently surely you’d have it after the results for the next phase.
It may well be it good news long term geologically but it’s how they get there now.
I haven’t sold and won’t before results.

Why would I want to drive the price lower.
You may well be wrong about that like the won’t go below 10p and the simple really comment about spudding over bank holiday weekend.
Just because someone has a different opinion to you doesn’t mean they have an agenda.
The RNS will not be viewed well by the market and history tells you PG does placings at crap times for crap value. It would not surprise me if this costs more than they have and a raise comes. That’s an opinion, not an agenda.

Short term objectives? Been here 2.5 years in what remains one untested drill from mou1. This is not good news however people try and spin it.
They will need more money, that is highly likely to come from a placing from a depressed price.

If interesting means the price getting battered. I take it they’ll need more money to get this done. Another horror placing on the cards. That JV offer may not have been so bad after all.

Not sure the question is are we there yet it’s whether we’ve left.

Share price generally tracks to true value when the asset is sold or a dividend is attached. They need to sell it one way or another or dividends for us to realise anywhere near value. There can be momentum driven spikes but probably not to that level.

Encountering pressure and taking longer than expected has got nothing to do with announcing when they were spudding, which they stated they would do two weeks before they said they wasn’t anymore.
Comms have been and continue to be a problem for PRD.
But yes, results will come when they come. We are close to the answer of what there is in Morocco, assuming we’ve spudded.

PG has created the speculation with not announcing the spud like stated in the 13th Dec RNS. The assumption was it was spudding over the bank holiday weekend so why would he need to issue a firm date. Turns out he probably had enough of investors asking why his timeframes kept being missed and knew it was going to be mid Jan. Next RNS basically says i’ve had enough of being accountable for anything I say so you’ll be told when we finish not when we start, and even then with partner approval. Wasn’t a problem for MOU1.
As moody as the governance has been, doesn’t mean the gas isn’t there.
Get through the drill and results, assuming positive, the next hurdle will be trying to monetise it without getting his trousers pulled down. That starts with a results RNS that the market can understand.
PG mentioned being a possible target if the results are good. I don't recall seeing a TR1 since I've been invested which i find odd given the scale of the opportunity.
It's all about the results, assuming we have spudded, a few more weeks doesn't really matter.

They won’t sell anything larger that £500 at a time to stop you buying.

I think any input PG could get around writing RNS would be beneficial.