Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Irrelevant what the reasons are, PG has stated testing MOU1 on several occasions.
PG has stated testing MOU1 and 3 on more than one occasion this year.
PG said re enter MOU2 whatever it takes.
We are now on MOU4 without testing.
PG said JV.
PG said no JV.
PG said take business to CNG with free cash flow.
PG said exit Morocco by the end of summer no due diligence on whole block.
PG said FID on CNG.
Those decisions are his to make, but he has pretty much said he’ll do everything even if it’s contradictory.
This is a discussion board for this stock.
Given what he has said all we are left with is what we’ll think he’ll do.
If he is looking to exit this year, and given the comments about testing vs volumes for purchasers, is his next move after the prospectus/CPR the next drill or the testing. He might be tempted for that next sweet spot, perhaps long lead items for another drill might hamper that option.
He said he’s looking for a Morocco exit this year. Using the subsidiary, PRD keep a working interest whereby he can be a consultant for that royalty. He mentioned that role. I don’t see him wanting to get the CNG up and running.
I don’t see how they do a raise involving issuing or selling of loaned shares before a prospectus is issued. PG and needs making whole first on the previous ones.
That’s not to say something else might not come into the fold.
That being said, the pace they are currently going at, I’m not sure any reasonable investor would begrudge them any financing they see fit at this stage.
Some of our residents have been caught out trying to trade placings. Each to their own.
PG voting rights are diminished until they are returned. That and they may need a raise (nothing wrong with that). The CPR and prospectus should see an uplift with shares returned to Paul and Lonny.
I think there’s half a chance they’ll move onto the next drill after the MOU4 information before testing. We shall see.
As soon as people start talking about PrD prospects and figures you/Louis10 turn up to cause an argument again. The discussion then gets turned into a spat and any decent discussion gets pushed off the page while everyone argues personalities.
All eyes on the prospectus I’d imagine. As BRV said this morning, that needs sorting to restore the shares and headroom.
With the information constantly changing from the drills the strategy is likely changing with it.
Logically you’re looking at prospectus/cpr, testing, next drill from the MOU4 information, but Paul G could switch that up given what he’s learnt and what’s left in the pot.
Paul will either sell and exit Morocco after testing (as he’s previously said) or if he’s in for the long haul of more drilling and testing for the whole licence areas, beyond the next couple, that will be funded by the CNG revenue. CNG upfront was quoted initially at around $5 million. That would likely be another form of finance.
It won’t be a constant raise and drill over the next few years through raises and placings.
“It is anticipated that the Company will complete and publish a Prospectus in the coming weeks to, amongst other things, enable the return of all shares due to Paul Griffiths and Lonny Baumgardner (including those loaned previously) before the rigless well testing programme commences in Guercif. Additional working capital will be required in the future to help accelerate a potential Compressed Natural Gas development.
An updated Competent Person's Report will be produced at the time of a Prospectus.”
RNS says prospectus and CPR before testing. I’d imagine that will get the price up a bit.
Perhaps it’s already begun. MOU4 was ahead of schedule, yesterdays information released just a couple of days after the initial one could have been released as one RNS if they were happy to release it.
The attack on the share price might have forced PRDs hand which is what some posters were asking for.
If any hostility is coming it’s likely to be before testing. I’d have thought once testing starts PG will be able to run enough interference until the results are known. Testing to start in the coming weeks gives any potential acquirer a collapsing timeframe to try something cheap.
As always, we’ll find out one way or another at some point.
Seems a few new posters trying to get momentum to pressure PRD to release information prior to the testing, which is to start soon anyway.
Probably in no way related to GRH comment yesterday.