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Almost getting there, 130p soon!
AIM market has lost almost all its benefits!
Probably we are going to get some news next week when the Final Results for the year 2018 should be posted, together with the notice for the AGM.
It was important to see the level of commitment of Miguens group, not only on the loan agreement (the bank loans probably became inmediately due once the Company informs there won´t be revenues and feasible resources to extract for the near future, so I guess the Company reached the nearest pocket) but also on the advance of Calcatru, therefore I´m looking forward to hearing progress both on the its Resource and Feasibility studies.
On the other hand 2019 is a political year in Argentina, with elections for national and regional governments.
I have been aware by a friend there that Rio Nigro is having elections this weekend and is unclear if the governor will maintain his leadership or other political parties win (i.e. anti mining groups). Let's keep fingers crossed.
Agree.
Some buys this week, hopefully will see this over 7 in a few weeks!
I have done my research and the drill results are not good enough.
Meantime PGD has no revenues, increased debts, higher interest payments, financial problems, no operations management, bad exploration results, lack of funding, mine clousure costs and probably severance payments due: PGD has been driven to the perfect storm due to the lack of management since William Humpreys left.
After wrongly informing about the potential of Cape Oste the Company now is holding on Calcatreu, which still doesn´t even have any pre-feasibility study organised and funded for this year.
In case of a succesfull one you then need a bankable feasibility, funding sorted, province permitting, construction and then in 3 to 4 years from now any possible operative income subject to future funding and metals price.
The management has lost any creadibility left by now.
Either this company is going private or is being bought for a song...
The management and BoD of this company are really awful, a month has passed since the date of the commissioning of the new crushing circuit and no news. Worst PR ever!
No new technical guy and by now the exploration at Uruguay may be dead since poor results were mentioned before.
Calcatru is the last hope but they are going to need money, time and good luck.
Looking forward for the interims next month to check the debt level.
The only upside I see is a possible takeover by a bigger fish.
Every now and then I come to check this share and every time becomes more dissapointing. The consolidation is not responsible in full for this carnage. The lack of direction of the BoD, lack of news, operations problems at CO, COO leaving and debts increasing are some of the reasons for this downfall. The company is still operating due to Carlos' money and willingness. Uruguay was a huge waste of money without results known, probably another write off is coming. Hope they hit the nail with Calcatreu, a long sleeping project due to the history of local opposition and regulatory restrains. They paid it very expensive and probably will be freezed until a new COO is in place while Argentina is approaching a new year of elections. I have done some research and it seems that all went tumbling down since Mark Sale and Will Humprey left the company, and probably Carlos will put the last nail on this coffin sooner than later IMHO.
Me too, but I have serious concerns regarding the viability of Calcatru taking in account the setbacks of previous owners, the social unrest and legislation in Reo Nigro. Hope we can get some info on progress of Cap West soon, and get back to 2p at least.
Sad. Interim financials with some news should be arriving soon. Interesting to see the debt level.
Good morning to all, I couldn't attend the AGM this year and it's a pity because I had some questions regarding the COSE deal. I 've been investigating the potential of the project and as per the previous financial report the Board stated that: "A preliminary economic assessment (“PEA”) was completed to establish viability for the construction, mining and processing of the deposit.The PEA showed the project could be constructed and mined out in a 23-month period and to have very attractive financial characteristics that included a production rate of 3,600 tonnes per month at a cash cost of US$167 per tonne, net revenue of US$63.7 million (assuming gold price of US$1,204 per ounce and Ag of US$23.75 per ounce) and a net present value of US$56.8 million at an 8% discount rate, an extraordinary internal rate of return of 870% and a payback period of only two months after the start of production," Has there been any material change since last year on COSE? Because the US$ 15M- of the sale looks very cheap taking in account the projected NPV. Regarding Calcatreu project, I tried to investigate but it looks the exploration there was cancelled some years ago due to public opposition and a provincial law against the open pit and cyanide mining in Rio Negro. IMHO these matters are probably causing the share price not to react to the recent news.
Looking forward the news and hopefully a sharp rise!
Probably no news until the AGM in 2 weeks, imho. Looking forward to attend. The 1.3 m oz are gold equivalent, mostly silver actually which looks like harder to recover. Anyone knows about a court action between the company and the province regarding a mining property in the south? I didn't see anything on the last pr but some friends sent me an article in spanish which I couldn´t understand but referred to archaeological zones and a wildlife NGO within PGD land.
Should be due this week udated with progress on Cape osete and Uruguey exploration.
Fingers crossed...