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They have never done a 3rd quarter report. Not sure where you are getting the idea they are overdue one.
They have, in previous years, released a trading update around this time but thats only required if there is significant difference to the predictions for the year. If everything is going as expected then its not required.
The next update is the final results at the end of May. NO reasone to be concerned that I can see at the moment.
No, in the last end of year report they said the board were discussing providing a dividend this coming year. No promises were made. This is just another confirmation that they are looking at doing it at the end of this year.
I'll be honest I dont think they actually will judging by the performance so far. Unless the 2nd half of the year really catches up I doubt they will feel secure enough to do it even if they do have the available funds.
But dont make claims they are making promises when they never did.
Essentially this is what is holding back the share price.
"the Board have assessed that the Group and Parent Company will require additional external funding, which has not yet been secured, in order to meet its ongoing commitments and therefore a material uncertainty exists over the entity's ability to continue as a going concern. Whilst management are confident that such funding will be achieved in the near future, there is inherent uncertainty until such time as such funding is secured."
Until they provide confirmation that they have adequate funding (for at least the coming year) no one is touching this and most investors seem to be running for the hills. Once again the silence from the BoD is not helping matters. They seem to think they have something in the pipeline but that deal can just as easily fall through.
I am currently holding on this in the hopes that the company can survive long enough to become profitable. I may regret that but who knows.
Since we are on this matter. This has been driving me mad for weeks.
"Hold your heads up in shame BOD." -itsaponzi
The phrase is "Hang your head in shame " or " Hold your head up in pride" .
Get your idioms straight please.
My initial reaction is that delays to the report looks very poor. I am hoping that I am wrong and they are just trying to get the saudi deal into the report and that is causing significant changes that warrant a complete rewrite.
What are you talking about ? Do you have any idea how manufacturing works? Petra sell uncut stones to the diamond industry at raw material cost. Those Jewellers then cut, polish and frame those stones to sell to the consumer market and add their cost/profit on top of that. Petra sold that rough diamond for ~13mill and the finished it was expected to sell at auction for ~12 mill. The only reason it made more than that was a completely un-anticipated bidding war between 3 parties. You cant price that into your sale of raw materials!
However any further finds of a similar nature WILL be priced higher as this will set a new bar for future pricing. This can only be a good thing for us as investors in one of the only mines in the world that these types of diamonds can be found.
If they sold the shares they bought in the last placing they would have had to report it. They still hold those shares they bought. I think you might be reading into this too much. Don't get me wrong, I am also annoyed at the current share price but I put it down to bad timing on the side of the exec rather than malevolence.
I think they might be gone. Gekko had a post earlier suggesting that Carats had been banned and insinuating this platform was corrupt.
That post has since been removed so I assume Gekko has also been banned from the platform.
Many things but I doubt any of them are anything we should be worried about.
"Petra today announces that Matthew Glowasky has informed the Board that he will stand down as a Non-Executive Director of the Company, with immediate effect.
Mr Glowasky was appointed as a non-independent, Non-Executive Director of the Company on 10 March 2021, pursuant to a Nomination Agreement between the Company and Monarch Master Funding 2 (Luxembourg) S.a r.l. (“Monarch”) and following the successful completion of the recapitalisation of the Petra Group. "
So he has resigned because his job is complete. The recapitilisation is done so they no longer need him in the role.
Seriously give up trying to spread doom and gloom every 5 mins, its getting really tiresome.
Are we even looking at the same share? What slide? All other factors aside, you only have to draw a line along the graph to see the upward trend! Hardly any in-depth statistical analysis needed. What rubbish you talk.
Funnily enough PDL is the only one of my shares in the green today! So it's actually beating the downward market trend.