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Afternoon all.... Cheers for the update Con. Well at least now we know why the money hasn't been transfered or have an idea. I too have everything crossed. But definately feeling more positive. Don't believe the PM is out to screw us like some other boards I've seen. It's just the lack of information that has a negative effect on us all.... nature of the beast I guess. At least the bloody sun is shining here in Scotland today. And as I've said before if the PM pulls this off the someone needs to get that man drunk.... seriously drunk!
Lol JohnnyG505.... Busines plan on the back of a fag packet..... with a scaled map of both mines drawn on the inside of an old pizza box..... And we got Simon outside on the corner right now busking for finance.
"But If The Paragon Can Mine Mothae And Lemphane At The Same Time Then The PM Will Be Able To Build The Company He Seeks To Build Which Will Thrive Even In Times Of Recession Unlike Other Diamond Miners. At The End Of The Day We All Want The Same Thing. We All Want Mining To Commence Immediately At Both Mines Generating Income For Lesotho And Paragon And As A Native Of South Africa, Jobs And Infistructure For Southern Africa Especially In This Volatile Recession Climate. If Paragon Is Allowed To Mine Both Mines This Will Create Another Strong Mining Company In Lesotho Creating Strong Competition With The Likes Of Gem Diamonds Which Would Be Favourable To The Government Rather Than A Small Manopoly. Also Should A Recession Kick In Soon Other Miners Will Need To Cut Costs Firstly With Job Cuts, Paragon On The Other Hand Will Immediately Be Creating And Maintaining Jobs Ensuring Incomes For The Local Populations. And Then Obviously Investors Like Myself From South Africa Will Maintain Our Interests In A Company That Will Benefit Southern Africa. I Personally Believe, That If Paragon Has Finally Got The Money And Can Transfer It, Paragons PM And The Minister Need To Meet Face To Face In The Tradional Man To Man Format, Put Away Any Gripes, Apologise For All Misunderstandings, Offer New Assurances (Even Be It Bonuses To The Local Communities For Loss Of Income, Because Surely A Minister Who Can Organise His People Jobs And A Starting Bonus Would Become A LEGEND) And Just Get This Deal Signed So We Can Get To Busines, Create Jobs And Start Mining. Prolonging This Any Further Will Only Cost Everyone Involved An Income"
Comment found at the bottom of the article. "This article has today just been noticed by a massive chunk of Paragon Diamonds private investors and has brought to light a lot of unanswered questions regarding to what has been going on with the Mothae acquisition. When Paragons PM took charge he came with a vision of creating a new kind of Diamond company, one which would turn Paragon into a major player and protect companies value. He had 4 immediate goals.... 1) Protecting company value 2) Aquiring Mothae 3) Funding and 4) To commence mining ASAP. The way this has unfolded has left myself and many other private investors very upset but after reading this article I can understand what has happened. Funding for Lemphane was never going to be easy, but by acquiring Mothae that would have required more funding but easier to aquire due to the scope of the mining. What we as private investors were told was that new mining machinery was required to yield better quality diamonds without breaking the bigger stones so I understand why older redundant machinery was sold. The PM stated that acquiring machinery for two mines at once would be cheaper than acquiring machinery for two mines separately so we understood why he hadn't started on Lemphane straight away. What we weren't aware of was that Paragon was contractually obligated to start mining Lemphane earlier. If the Minister and Paragon had not come to an arrangement I can then understand the bad faith the Minister views Paragon with. The Minister's priority is to ensure that the countries interests are looked after and that the Basotho people are given jobs and security that this brings.... especially now that it looks like the real recession is about to hit the world. The Global markets are about to crash and anybody with a bit of sense would have known that a massive recession was on its way. Hence the reason why funding has been hard to come by. Now Paragon has had her trading suspended to protect her against hostile take overs and been delist ed due to this which the shareholders are not happy about but understand why. But what we are not happy about is how negotiations have taken place.... There seems to be some miscommunication between Paragon and the Lesotho Government. Paragon has according to the above article failed to contractually start mining Lemphane. This has meant a failure to create immediate jobs for the local Basotho people and Text messages are very unprofessional. I can understand why the Minister is upset because Paragon so far has failed to show the Minister that it is going to look after the interests of the Basotho people. I can also understand most (minus one or two things) why Paragon has done what it has. Gaining finance right now is an absolute nightmare in Europe especially for a sector that will be hard hit by a massive global recession ie: diamonds. But if the Paragon can mine Mothae and Lemphane at the same time then the PM will be able to build
This is not the news I wanted to hear.... especially on Xmas eve even though there was plenty of warning from Chauv.... The PM has promised much and so far failed to deliver. We are currently worse off than when he took control of our war band promising new conqured lands and the holy grail and the cure for cancer. Including the shares I've held for almost 3 years now I even sunk my short term war chest into this stock on the heavy optism of our Battle Captain the PM. Only to come out in defeat and on the retreat. I know we are not totally defeated but it is moral sapping returning empty handed and with nothing to show after our last battle. So we haven't lost the war but this last battle does leave a bitter taste in ones mouth. What I personally would like to know is what the strategy is..... what is our next plan of attack from herr. As night follows day I can guarantee its what we'd all like to know. But just like the enemy will try to discover our Battle Captains plan so as to use it to their advantage could one not assume that this is exactly what happened to our previous plan. Before you invest with anyone one would automatically do a bit of research. If the person asking for your investments has made his intentions clear and has a lot riding on the line then surely you can demand a pound of flesh in return and then some extra. Is this possibly what happened to our Battle captain? Everyone knew he was desperate and upped their prices? The PM has called their bluff and they called his. He could have buckled and given in diluting our future worth but he stuck to his word and held strong hence maybe not a retreat but a tacticle withdraw from the battle. Speculation this all may be and as much as I would like a clear strategy laid out I understand the fall out from revealing too much. But I will settle for a strong guarantee from our PM that we will come out of this victorious in the new year.
Question.... "When" PRG relist on aim or where ever else.... at what price would the shares be valued at? The same price or at another predetermined valued set out by the company?
Well I sincerely hope that PRG are still at work ensuring a most fruitfull Xmass for us their investors. If they have closed Shop and gone Xmass shopping hopefully they have already sorted it all out and have an rns pending. If the PM pulls this off the way we are all praying for then someone needs to by that man some serious whisky..... and anyone else responsible.
Hmmmm..... This is certainly not going to plan. I would really like to know how we have landed here in this predicament. Someone has not been honest and someone needs to pay the piper. With luck the latter will not be the sp nor the holders.
or i could spend my time reading something else and have someone up with the curve brief me up..... snooty???? Seems appropriate....
What happened here???? Why the massive drop?