Member Info for MattTheBrave

Legal due diligence is effectively agreeing the exact wording of the contract between the two parties - it rarely leads to the break up of a deal, but can be protracted in terms of negotiating time. I agree that the operational due diligence is the key area in terms of the deal being done, and as you suggest, it would appear that that process has been completed. My view since the financing deal was announced was that it will proceed and I remain of that view. The question then becomes the extent to which the stock price moves up on this news, or continues to drift until mining begins to yield results. There has of course already been an active debate on this issue on this Board already.....

Watch out Johnny - it's balanced and considered thinking like that which will get you quickly labeled as a dreaded de-ramper on this board....;))

Stock's now on 22 times earnings , but looks good for 30% growth for the next few years. I think we could see £15 before year end.

Well that's not worked out too well for us so far has it....? Let's hope PM isn't lieing. Sorry I meant lying - idiot's mistake.......

Yep, good stuff. Mind you, having 6 bagged now for me, I'd be lying if I said I wasn't thinking of letting a few go.......

Yes Mike, you're right. It is of course possible to sell shares without a buyer on the other side. The proceeds of the sale just appear in your bank account as if by magic. I was a fool to think that a bloke like you wouldn't see through my obvious trickery.....;))

Experts? Plural? There's only one of me you know (and thank God for that I hear you cry!!) ;))

Still not answering the question and still no grasp of grammar. At least you're consistent. :)

Still not answering the question and still no grasp of grammar. At least you're consistent. :)

So the petty insults aside, you still haven't answered my question : why does the market discount one thing ( eg mines where the yield is still uncertain) but not a signed letter of understanding? Should be easy to answer for someone as smart as you. If you could also throw in some proper sentences with some semblance of English grammar, that would also be excellent.....;)

Oh, you do make me chuckle CL. Let's take the following words from your post below, in your own unique style of English (I've corrected the misspelling): "When the dates are set and everything is ready market is forward thinking to these dates. You will find AIM goes up on anticipation of major events." Which is odd, as despite there being a letter of intent, and both parties having publicly talked of their commitment, your view is that the market hasn't factored that in the Mothae/Lemphane financing, and even better, hasn't even factored in the Mothae mine itself, despite the fact that it has been discussed for months. Now come on we all like a laugh, but I believe you actually called ME 'stupid a few posts ago. I hate to resort to name calling like you, but people who live in glass houses.........

I know, Suth - thought for moment we'd have a sensible debate but CL reverted to type as predicted.

Ok, fair enough. You believe the funding is largely not reflected in the price, whereas I think it is. As you say we'll find out, (and I very much hope you're right and I'm wrong!)

Sorry, but it's not 'silly' if you think that the market already believes the funding will happen. We simply have a difference of opinion on this point. I'm not saying I'm certain, but on balance, it's what I believe.

As I say, I hope you're right, but I'm not convinced . Guess we'll soon find out!!

Well perhaps you're both right - I hope so. However, let's consider the facts - Firstly, think about all the events which have happened in the last 12-18 months which were (according to most on this board) going to result in a huge re-rating: Financing for Lemphane; Aquisition of Mothae;; Government permission for Mothae; Financing for Mothae and Lemphane. All of those have come to pass, and yet the stock is well below the price of 12 months ago. Foe me .that suggests the value will only truly be seen when the diamonds are mined. Secondly, and I know you won't like this, but frankly, the two of you are a bit biased. My comments are balanced with positives and negatives - no stock is perfect (particularly on AIM!) so I think that;s a reasonable reflection of reality. I don't recall either of you ever saying anything remotely negative, and as such, I wonder whether you apply any critical thinking? Perhaps I'm wrong, but that's how it seems - sorry! And no catlover, I'm not 'having a laugh' . Cue the abuse.......

I don't think there's many in the market who think there's a risk of the finance not going through - both parties would look a bit silly having made their official statements. On that basis, I cannot see why the confirmation of what we basically already know to be true will see a big re-rate. I suspect that we will have to wait until the diamonds start coming out of the ground before the true value of this stock emerges ie Q1 2016. Patience is indeed a virtue. From my perspective, once the finance is in place and the equipment is being purchased, then I'm happy to wait. The series of missed and delayed timeframes over the last 12 months was less satisfactory.

Just a smidgin! Look at the volume though - that's the second highest number of shares traded in a day in PRG in the last 5 years. It's 2% the company, and nearer 4% of the freefloat which is huge. Maybe a surprise to many on this Board but there were clearly plenty of people happy to sell into the good news and match the new raft of buyers/short coverers. It'll be very interesting to see how this fares next week!

'Fraid so Suth. Up 16% first price and finishing flattish - just like those other 'spikey' days. As you know, I've always felt that the main gains will come when the shiny stuff actually comes out of the ground. Plenty of froth (both up and down) between now and then I suspect, but longer term upside remains.

I'm gutted. No really. I just won't get any sleep for a week now.....;))