My only point on that Keith would be any delay in relation to how close the estimate has been and then pushed back. Q1 to Q2 etc is expected like you say. It is a little surprising when estimates in July are missed by October. The last one for mid December was only about three weeks in between. One would hope the shorter time frame the prediction, the more accurate PG will be.
The amount of crap posted can be attributable to both sides. £15billion conservative market cap anyone?
The drill is coming one way or another. I don’t see much of a rise until results are known. The last placing killed any momentum.
If you’ve been here long enough you’ll know this is how PG runs it. Another month isn’t a drama, unless you’re trading it of course.
PRD is about the end game. Trying to trade it is fraught with danger especially given PG history of poorly timed placings.
We have no idea how much of the previous 60 million were still churning before this latest lot.
It could be the overhang is near to clearing or it could be it takes the spud RNS volume to clear the last lot in which case there may not be much of a spike before results are imminent.
Because in 6 - 8 weeks time the drill and testing should have been completed. If they are as confident as they seem and it’s a success they could have raised at a much higher rate with less dilution. Only two reasons to raise now. Covers off raising at a lower rate in the event of negative drill and testing or that 6-8 week wait will affect or delay a corporate structure in some way.
Let’s hope it’s the latter.
I’m not PRD’s greatest fan for governance but PG and Lonny aren’t trading this share and quite rightly are positioning the company for maximum shareholder value. I’d imagine the very last thing on their list is worrying about short term traders trying to make a quick gain on the lead up to a spud.
PG and Lonny need an exit strategy to realise their own gains and that will be some kind of corporate structure. Whether that’s short or long term who knows.
Regardless if this went under 10p or not Keith is all over his stuff. I find his comment about the company issuing an RNS saying work done but possibly not backed up by the latest satellite data more relevant at this time.
Given we are supposed to be a spudding in the next two weeks, would this still be achievable given the above?
I don’t know how long the prep takes prior to spud.
I’d imagine this may be a more useful debate for investors rather than if Charlotte got her buy in price (which she didn’t here) and her poor entry at PANR.
Yes it would matter if the company kept missing their own time lines set so close in the future.
I hope it’s not tied in to MOU3. Long lead times for MOU2 has caused this delay, would probably be at least a long a wait for the MOU3 equipment.
No reason. How about the managing director tweeting like a lunatic while we are waiting for a JV outcome to get the price up only for PG to sell into the rise then announce no JV and a 5p placing. There are many other governance issues too.
Skin in the game is PG only credibility here. And in the long run it could all have been worth it.
This could still go either way. If it explodes the signs were obvious, likewise if it goes bent, in hindsight the signs were obvious.
The only thing sorting this out is the drilling and a clear RNS afterwards what we have. That is now within reach.
This is PGs work to manage and any payout we get will be down to him, but if you go to the markets to fund it, as a ceo, you can expect to be scrutinised. PG may be a very good geologist but as a ceo, not so much, to date anyway.
Ford, your posts are so sycophantic and one sided it’s untrue. People can read. PG’s governance is moody at best. The only reason I remain invested is because of his holding. If his holding was like many other CEO and had no skin in the game I wouldn’t touch it with a barge pole. Having some balance isn’t a bad thing.
One way or another we should know what we have in January. And I hope, as anyone long, that GRH is correct. I followed GRH on iii back in the day regarding GKP, and he was spot on there.
Contingency planning wise it is a smart move if testing of MOU1 and 2 isn’t what they hoped.
They have effectively got a placing away at 8p to drill MOU3 and support the other projects. If MOU 1 and 2 testing is bad then they would have got another placing away at the square root of FA so gives them another bite at a better price than the last 5p one but not as good if MOU 1 and 2 are positive.
Hopefully that’s a by product and it’s moves for a corporate structure and we all get paid at some point next year.
Yes I fully understood the RNS, and in isolation I’m not saying it’s a bad thing. My point was not in the price action afterwards, it’s in the fact that PG never sticks to what he says in an RNS. It was fully funded a month ago. Now another placing. At some point it may come back to bite him that the market won’t take any RNS at face value.
On the other hand it may be ducks lining up for next months results. We won’t know until next month when either the price goes ballistic with a corporate structure or PG releases another RNS with more questions than answers. Obviously I hold for the latter.
MOU3 ordering now for long lead times, we are still waiting for MOU 2 to be drilled because of the same thing, why would another 6 weeks matter if they could raise after the testing of MOU1 and 2?