Member Info for quindell

You make a fair point, so whats your opinion on this funding agreement? High interest coupon, high percentage of REVENUE not profit. Whats everyone's opinion, I genuinely am curious.

You can think what you want mate...... and yep you can tell it was a desperate attempt from PM in all honesty that was put together very recently, with PRG having to pay back $3,220,000 in the first year if the revenue is as expected when looking at only $15 million of funding.... does that look like a good deal? Just a question

Who knows Sutherland, I haven't bought back in yet. I have always been adamant that I like the company, mainly because PM is leading it.

Must have been working at this deal for the past 2 weeks, because this deal definitely was not on the table early in September.

Lol.....

Lets see when its all signed

Very interesting

Appreciate your post BigBite and its good you are open to apposing opinions, and catlover I am in no way shape or form jumping on any bandwagon. I was invested here and did post on this board when I made 100k and 150k investments to name a few of them, then I posted on this board in early september when I sold out and I passed on information which was given to me because I'm nice like that. For the record I really dislike TW and Doc H and I'm not into twitter trash anway, and their bashing tactics. Also cat I have always been adament these are my opinions and I have always used the word 'may' with the placing, because at the end of the day I know its a sensitive area for PI's and I'm not looking to unsettle any nerves, just simply giving a different opinion. Also Catl, I'm pretty sure I am more familiar with both Lemphane and Mothae assets then most people.

Lol I knew what I posted would upset you!

Im not de-ramping I'm simply stating my opinion.... and if I'm wrong about the large placing I will hold up my hands and say I was wrong. Im not advising anyone to sell.... I am simply stating my take on the whole situation. Between 2.5-3p was more sensible, but around 6p was overvalued without Mothae. As I stated in the medium term this will be on the same level as a Firestone type producer. Again I'm not trying to talk 'no sense' or "de-ramp"

Even the £18 million figure I quoted may be generous. All in my humble opinion.

You make fair points and I agree, and I have always liked PM and the terms for acquiring Mothae were fantastic which was down to his negotiating I'm sure. The market was aware of the dilution, HOWEVER I hold the opinion that PRG were grossly overvalued prior to the acquisition of Mothae. Now you're probably thinking how thats relevant now Mothae is in the process of being acquired. Well, considering there may be a big placing on the way the MCAP of the company considering Mothae and Lemphane will, in my opinion gravitate towards the £18 million figure until in full production. Now what that will means in terms of SP I do not know. You have to remember, the plants that will be built/upgraded at Mothae & Lemphane are very small and generator run and so the risks are very high due to the exceptionally low grade, however the stones recoverable are unparalleled. The only way PRG can be truly successful is when they build world class mines like the one at Letseng, and the one being built at Liquobong.

Just want to clarify that I'm not in here to talk down the company to get a cheaper entry or whatever, I'm just here to give my opinion and hear others.

TW is an absolute bafoon! I ignored what he said with QPP and made a lot of money, so I tend to do the opposite of what he says!

Also you have to remember we are using Lucara's plant that was used for bulk sampling, so there are a lot of modifications to be made there including addition of XRT machines, adjustments to screens etc etc, so its not as simple as many think it is.

Yes I'm aware of that, but what you fail to acknowledge that the terms of this deal aren't favourable with the yearly coupon amounting to over $2 million in the first year, considering the previous proposed $4 million loan note and the additional $16.5 million note, assuming the coupon on the second note is as the initial loan note. With the very low carats pht it will always be a very rough first few years of production, but as I'm sure all of you know all it takes is 1 big stone....

Well the ITGT deal isn't sufficient to develop both mines you see, which is why extra funds are required anyway, and its why PM is going for an alternative deal for the full amount required to complete the acquisition of Mothae, and then purchase the machinery required at both Lemphane and Mothae.

What level of share dilution are you expecting, because its certainly more then the ITGT deal.

Hi BigBite, the whole deal revolved around PRG attempting to maintain the SP through the buyback so that the ITGT deal could be a viable option, however its evident that ITGT won't be funding which PM alluded to himself in a recent interview and in recent announcements about securing the best funding.

*of PRG