Member Info for madsktpan

I've got this gut feeling we are going to wake up one morning soon to see trading in the shares are suspended.

To enable due diligence to be carried.

to see if Jones features in the apparent new Co.

would surely be chicken feed to some of the other major operators in the area?

I suspect the acid test for any prospective buyer would be how they valued the future potential of JL for themselves. ie NOT what 1m ozs of gold production has.

I'd be surprised if BH would want to sell for less than 10p a share.

You & me both, RD.

Look at PGD the Big Brother of LND (PGD was also started up with an IPO by RP & BH). Today PGD is exact same share price (pre consolidation) as LND yet has been in gold production for past 5 years at 2 mines.

Appreciate it is sometimes difficult to compare apples with pears but what happened to RP & BH's other goldie - that's why I'd like to see the entire Company of LND sold off. Frankly they have to say their preferred option is now to go JV. As with their ages and background you don't have to be the Brain of Britain to see the pitfalls of them going solo to production. Although they obviously still have to maintain it's not an option entirely written off. Similar in a way to making it public they want to sell. It would be a silly negotiating strategy - kinda making them look desperate to sell.

But I'd be gobsmacked if their preferred plan of action wasn't to sell.

consistently only 18 months ago.

Now a MUCH stronger looking Company in every aspect........ than it was 18 months ago.

Agree with all...... except your point No.2......... IF you mean LND funding the gold project to production.

There's no way but no way imho they have what it takes to mine the gold themselves (even if they could secure funding). Notwithstanding their very advanced ages, apart from a short disaster spell in Patagonia, BH hasn't mined anything at all for over 25 years and RP wouldn't know what a mine looks like.

I see iron ore spot price has soared recently.
Maybe that off-shoot Company of LND will now rise from the ashes?? After all, it was at the time split away from LND apparently for shareholders benefit.

Given where the gold is located maybe they could throw in the Lamaune Iron Inc company as a Brucie Bonus for any prospective purchaser. Can't remember exactly the resource numbers, but it was a significant volume of iron ore. Enough to make it viable to go to production (until the spot price seriously nose dived).

yes, it certainly could be interesting. Only reason they'd pull is if either RP or BH unable to present through illness (very unlikely) OR the PEA ain't going to be finalised in time.

OR an other more bullish reason........!!!

And I'm hoping for the "OR an other more bullish reason".

Agree with you. However, not sure BH & RP are the type to sell the entire Company for a song. No matter how keen they are personally to dispose.

Something has to give very soon. If for no other reason they'll need some working capital.

I see they (RP or BH??) are presenting at ProactiveInvestors forum at the end of the month. Hope that's not a signal for more fundraising and simply them trying to stimulate some institutional interest in the stock. The sp seems dead on the floor at the moment.

there's arguably circa $1.5 BILLION as a gross asset base just for the low cost extraction gold alone as is (ie without any further exploration). And then there must be similar values combined for the other minerals (albeit underground) should spot prices improve in the future. I think there might be at least one major miner taking note. Just a pity the grades aren't that exciting otherwise it'd be a certainty.

Be interesting to see how this pans out.

LND have a cash burn to date of circa $65 million. So, a Mkt Cap of a mere $100 million isn't fanciful. A p*ss poor return in truth.

There is much more to JL & LND than simply the gold project. Of course they weren't even into gold until relatively recently. The attraction to a potential buyer would be the prospect of what JL has to offer both in terms of immediate low cost production & further exploration. Of gold and a host of other minerals well advanced as previously published being Nickel, Copper, Cobalt, Platinum, Palladium. Not to forget Lithium etc.

Between them they own circa 140 million shares (incl Options).

Given their current ages and how much they have personally invested in terms of financial & time input over past 15 years I'm not sure a JV would be that attractive to them given their advancing years. Unless they plan to simply pass on their stock as an inheritance. Ideally they surely need an 'end game' at some point to realise their own investment?? They are not like us who can sell at any given time to suit.

They've enjoyed having a couple of major backers through the many years, and I suspect there must be some conscience to do good by them

I doubt RP has ever visited JL and I have my suspicions BH is enjoying semi-retirement in Italy since he officially retired from Patagonia Gold. Most of the 'real' work done over past 2-3 years seems to have been sub-contracted out to consultancies with MT being the local point of contact.

LOL @ UR....... it certainly SEEMS cheap as chips at under 1p to buy. Good luck to you. I still kick myself from time to time why I didn't sell when Packer Jnr sold out at 14p. What a numpty I was!!!

For sure, it's going to be a hugely critical next 2-3 months post PEA. Not quite sh*t or bust. But the thought of further fundraising etc makes me shudder with the effect yet more dilution would have on the sp.

I wouldn't pay too much attention to RP's recent bullish stance. It's been there for many years. Promises much - delivers much less. He took 'retirement' from Patagonia Gold as FD 6-7 years ago. BH followed him into 'retirement' as CEO soon after. They didn't leave because of any success - in fact they left a shambles behind. Frankly find it hard to believe they both aren't planning an exit strategy here with LND asap. That's my personal hope/opinion anyway and the only reason I continue to hold.

Hi UR

Not sure I'm the best person to listen to. Although a loyal, longstanding holder of this stock I have a pretty jaundice view of things.

I hope & pray they are NOT currently even thinking about a JV. Although if nothing else is on the table then they'll obviously have to look at & consider any JV proposal.

LND as you probably know is effectively 2 individuals. One (BH) is nearing his 80th birthday. The other (RP) is also way past normal retirement age and is a part-time accountant. If you check out his CV he's been involved on the Board of over 20 companies that have all been dissolved. When he came on Board with LND he jokingly declared in an interview that was published that he couldn't tell one rock from another. He's effing useless imho. BH knows the game but lives off his reputation which sadly shows he's not done anything to write home about in past 20 years. I am suspicious he hasn't featured in any podcast interviews for a few years now. Yet he's the one that gets quoted on RNSs. Mind you, if I was nearing 80 then I wouldn't want a full-time job with a Company like LND.

There has been a cash burn of circa £50m. Shares have fallen from 21p to circa 1p in the past 15 years. Not a great success story for any long-term loyal holder.

There is not a cat in hell's chance they have the ability to solo take this project forward to production after the PEA.

My get out of jail card here is that they'll be desperate to try and sell lock, stock et al.
That'd mean imho a realistic disposal/sell price of 5p min up to 10p. Maybe 15p if there's 2 interested parties who see the potential of a multi million oz development at JL.

Think yourself lucky, pal......... what about those who thought these were cheap when following the CEO who purchased stock on the open market at 16.5p many moons ago.

how much of this is them playing hard ball (& brinkmanship) with lenders/creditors?

They haven't even 'appeared' to have tried to raise funds to clear the debts and get the Company trading again.

and misleading ramping nonsense what you say " the Miguens family is the true BIG beast of locals who know precisely where the gold is".

Neither Carlos or any of his family know anything material about the mining industry. They have made their wealth in other fields.

But they have been invested here BIG time for just shy of 15 years. They must be wishing they hadn't as the reality is they are sitting on a HUGE financial paper loss. Something in the order of £100 million. Hardly a success story after 15 years?

They are NOT explorers. Never have been. Never will be. Except for Calcatreu all the historic PGD exploring has been done by those no longer with the Company (ie Humphries + Sale + Boyce).

You are entitled to your positive bullish thoughts. But please stick to something nearer to facts & reality and not ramping drivel.

As has been posted on another BB by another poster in response to your drivel........ what you say is misleading ramping nonsense about the Carlos & the Concert Party.

Can't you read the RNS? The answer is there!!

over an hour ago - not sure why it hasn't shown yet on this platform:-

18/01/2019 1:00pm

UK Regulatory (RNS & others)

Patagonia Gold (LSE:PGD)
Intraday Stock Chart
Today : Friday 18 January 2019

Click Here for more Patagonia Gold Charts.
TIDMPGD

RNS Number : 5382N

Patagonia Gold PLC

18 January 2019

18 January 2019

Patagonia Gold Plc

("Patagonia Gold" or the "Company")

Production Update

Patagonia Gold Plc, the mining company with gold and silver projects in the Patagonia region of Argentina, Chile and Uruguay, is pleased to provide an update on production at Cap Oeste for Q4 2018.

Highlights:

-- Production at Cap Oeste for Q4 2018 was 7,677 oz AuEq at an average cost of US$580/oz AuEq
-- Total production for year 2018 was 42,906 oz AuEq (2017: 20,088 oz AuEq, excluding production from Lomada de Leiva of 5,917 oz Au) at an average cost of US$507

-- Re-handling of the stockpiled ore at Lomada resumed as planned at the end of November 2018
-- Planned production for 2019 is being reviewed and a guidance will be made during Q1 2019
-- Total debt of US$21.9 million as at 31 December 2018 (2017: US$25.5 million)
Production at Cap Oeste for Q4 2018 totalled 7,677 oz AuEq (Q3 2018: 12,160 oz AuEq), at an average cash cost of US$580/oz (Q3 2018: US$360/oz) and US$629/oz (Q3 2018: US$396/oz), including depreciation and amortisation. Production from Cap Oeste was lower than in Q3 2018 as a result of lower than anticipated grades in the material being re-handled, repeated labour disruptions with the union (AOMA) in Santa Cruz and downtime of the crushing circuit.

Production for the year 2018 was 42,906 oz AuEq (2017: 20,088 oz AuEq, not considering production from Lomada de Leiva of 5,917 oz Au), approximately 5 per cent. below the guidance of 45,000 oz AuEq. This lower than anticipated production during Q4, primarily during the month of December 2018, was the main reason for not achieving guidance. The average cash cost for the year was US$507/oz Au and US$552/oz AuEq including depreciation and amortisation.

Re-handling and crushing of the stockpiled ore at Lomada resumed at the end of November 2018. Production for the month of operation was approximately 300 oz Au.

The net proceeds from the sales of Cap Oeste together with the proceeds from the sale of the COSE royalty announced on 21 December 2018 have been applied to overheads, exploration costs, capital expenditure and to reduce bank debt. The debt as at 31 December 2018 was US$21.9 million (2017: US$25.5 million).

The Company is currently reviewing the planned production from Cap Oeste and Lomada for 2019 and plans to announce this guidance by 31 March 2019.

The Company continues to review alternative opportunities to extract value from the COSE-style hypogene mineralisation, which lies below the completed open pit and which is estimated to hold approximately 300,000 oz AuEq at 20 g/t AuEq.