Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
It will be interesting to see how PG manages the next round of financing. How far will he need to take the CNG to get an offer he thinks is acceptable? T and T in the background won’t help. Either way a successful drill and testing will see 5/6p in the rear view mirror.
It’s not no money. They’ve been selling for a while. They’ll take an overall profit. There is risk to the drill result if it goes the wrong way. They will make a certain percentage overall. That’s how they do business.
I’ve been critical of PG in the past regarding timeframes but I do believe that was probably harsh given the macro conditions he is working in. MOU2 setbacks can happen. I fully expect June drilling to happen and testing to take place. Whether he’s been given a kick up the ar se or it’s the cash required for T and T looming it definitely feels more urgent. As always though the proof is in the doing and not the saying.
PG is the CEO of a listed company. The Sunday Roast wasn’t a hatchet job of leading questions and edited to mis represent. He had free reign to talk and talk he did. To blame the Roast and the broker shows no personal responsibility. It’s like a child pointing the finger while still holding the crayon. The advice to go on there may have been poor and PG can take exception to that and sack the broker but what was said was all him, there was very few questions, just a platform to get it out. He should own that. Pointing the finger, and people buying into it, is a joke.
getting the drilling away in the next couple of months, fair play, but it is his job. it’s when he opens his mouth it’s the problem. he says he’s a great geologist, could turn out to be true, as a ceo, shocking.
could july/august bring some clarity to morocco? let’s hope so. can’t trust a word he says but he is the largest holder, the only reason i still hold. still think it’s odd that there’s not been one tr1 (loan shenanigans aside) in the nearly three years i’ve been here and paying attention. you’d think given the prospect someone would have bought into the dream.
we are on the cusp of an answer to morocco. if positive it then all becomes a question of if pg can monetise for prd. needs a couple of interested parties or he’s going to get squeezed to ****.
a quick exit from morocco to fund the next shiny thing in trinidad is on the cards. the die hards won’t have it but come back to this post in a few months.
whatever happens if it’s a successful drill and positive results the share price will be well above 6-7p so no one’s losing out, just not the ridiculous predictions posted on here.
The royalty will make it a lot more than $200m. Lets hope he can get a deal with an ongoing minor interest through the subsidiary he has mentioned on several occasions.
Time will tell but I expect they’ll exit Morocco long before getting any CNG up and running. Keeping a minority interest where all the costs a carried by a partner will be appealing. How much the buy in price will be will depend on how the testing goes.
A special dividend and a royalty without having to put their hands in their pockets again is what he was after. What he suggested in the Roast was what he wants hence he was touting it. Where it fell down was no due diligence and quick sale message. Sounded desperate. The message should have been we are going alone but an offer like this might get us to the table. After the presentation that appears now to be the message. Still think what he quoted is what he wants to exit Morocco though.
They have to give the appearance that they are willing to take it all the way so they don’t get had over. This is why the Sunday Roast was an own goal. I see things moving very quickly after testing, assuming they get the relevant numbers.
This is why he floated the 10% royalty. I believe the deal on the Sunday Roast is what he is looking for and getting to that stage as soon as possible.
As he admitted, it was not how he wanted it to come across. He was better off announcing a willingness to sell after all the ducks were lined up. He is now doing that with the financial modelling after testing.
I get what PG is saying but stating he knows corporate I’m surprised at what he did. You don’t get top dollar by saying you want to sell, specifically quickly with little due diligence. He needs the pretence he’s willing to take it all the way. He’s saying it now but the horse has bolted. Take away that Sunday roast and everything is moving in the right direction, albeit with delays. Should abandon the broker who advised that. Certainly will make life harder trying to sell for a decent amount. Need a couple of interested parties competing after testing and it may override the predicament.
I believe what PG stated in the Sunday Roast is his intention. He has realised, or didn’t explain it properly then, that he needs to get the CNG business further down the road to sell it for anything like what he wants. PRD won’t be proving up TCF’s of gas. That will be the next person, hopefully with the royalty he suggested.
Every RNS or investor presentation PG issues contradicts the previous one or/and every objective is missed. Why believe this one is the one to come true.
Cut through the noise, that includes whatever PG says and see what he actually does. He only has to be right once.
425 million shares now with one competed drill still no testing. Why will the latest ramblings actually happen, he’s failed to deliver anything else he’s stated. Change of strategy again, market loves that. Good if you like dilution with horrendous placing prices.
June it is then, until it isn’t.
Objectively it’s one untested completed drill in nearly three years with numerous raises. Sunday Roast he said testing not that important. He should have tested MOU1 by now. If he was confident and did that all subsequent raises would have been at a higher price.
See if anything lands before the 18th.