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Folks, this is a net 21% increase in shares issued placing, when the prospectus is approved. That will take some time to churn through, even if one II comes on board with a TR1 after August 18th.
But I agree, PG needs to be very clear what is the forward schedule for PRD, and how monies are being allocated, and STICK TO THE PLAN.
That just about sums up what I did today, too.
We're all assuming that the DFC financing will come through as a done deal. What if......?
GRH, I always assumed you had a hot line to PG and he would listen to your past successes on fund raising. Apparently not, now.
PG has let long term shareholders down badly this time, but no doubt in the next video interview he will be adamant that he acted in everyone's best interest.
@keithOz: need to refresh your valuation metrics now for 550mn shares.
Much as I would love to see a single committed investor take the whole deal, I am very sceptical.
But let's see in the morning.
I must admit that PG has been played by Novum here.
What a shocking discount to the share price a few days ago. For once, I think the de-rampers have been proved right, in the short term. The micro end of the UK stockmarket is riddled with suspicious activity and bucket shop brokers. Prd is not only one to be affected by such intermediaries and their scalping appetite, and won't be the last.
The error in PG's management of Prd's finances is not to line up one single cornerstone investor with deep pockets and a longer term horizon for value creation. Without such an investor, Prd was always going to be at the mercy of the traders in the City.
To make matters worse, the proposed financing doesn't even mention the $1mn needed for Trinidad by the end of August. Nor is there any mention of drilling a MOU-5 to determine the intervals in the Jurassic.
And I thought Prd already had enough cash to perform all the rigless testing, before this placing.
A poor effort, PG. Many disgruntled shareholders who have stuck with you through all these placings this year.
Seems like this company is accident prone.
What's a reasonable timeline for expecting Liontown to conduct this exploratory work on Mila's property?
And what's the likelihood that the placing referred to by Mila in the July 27 RNS happens sooner rather than later, to capitalise on the excitement of the last couple of days, reflected in the sp?
Mila only owns 50% of the E36/876 property. Not right to think of this JV as just being between Mila and Lion.#town.
The filter button is the best thing since sliced bread.
THE PUMA,
What a load of utter tripe. A classic troll conversation, with zero interest in the underlying business or the financial well being of shareholders. Just a mean mouthed attempt to ratchet down the sp temporarily to either close a short or establish a cheap entry point for the next leg up in the share price on its way to potential multi bagging.
Most seasoned investors here can spot your motives a mile off and probably filter your types, as I will be doing after this post. But I dear for novice investors who might actually think you have a point.
Here's just one point you might like to consider, contrary to your clever trading idea for Monday morning.
Some of us have multi million shareholdings. Have you ever considered the futility of selling that load at 15p and possibly replacing them at 12p? And aside from the liquidity aspect, what if the placing doesn't take place? I'm out of my long term position and will have to wade back into the market to replace my sold shares higher up. Aside from the angst of having to trade for a few pennies on the sp, what is the utility of this transaction when I am looking at a potential gain of 30p, 50p, possibly £1+?
Some perspective there for you, sir.
What I would say is that there's more than one way to skin a cat.
Each to his own. Know thyself is the recommended mantra for successful investing/trading.
And GLA.
"Sometimes imposters attempt to use my credibility with a look alike name"
If you are referring to me in this Panr post of yours, you've got a damn cheek, sir.
Don't think I've ever wished for a placing in the next day or so as much as I want one here.
Does He1 have any leeway left to issue new shares without issuing a new prospectus?
20p on re-opening?
What a bloody farce.
There are 2 plays here.
One is the pre -spud trade.
The other is the bigger risk, far bigger potential reward of holding golden tickets for a commercial discovery.
My fault. I just went in and bought 100k at 9p.
Lol.
Next is..... Nigeria?