LoveMining
03 Oct 2015
Re: Uncomfortable Post: I think i can safely say this is where we are going. Absolutely no doubt about it. I hope AOW is wrong but his previous history proves otherwise.I just hope that gold shoots up to recover the price we get when they do us over. Bad times when you think banks are safer to invest your money in rather than AIM.Thanks for your informative posts AOW.LM
Antiques Of Woodstock
02 Oct 2015
Re: Uncomfortable Post: A,O.W. Resoundingly Yes ! Do you think it possible in view of the way these matters have unfolded theres any recourse for us private investors to take. I would be more than happy to persue a course of action, if one were possible, to bring this miserable Bod to account. ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------Good evening Strider PAnything is possible however - I feel that we should wait for this to unfold further so that current concerns are either confirmed or dismissed by future Management/Concert Party actions.My post purely highlighted information that was released by our management in order to raise funds and enable the Concert Party to take a controlling interest – yet those funds were not utilised as promised - plus point out that we are less than 10 weeks away from the last time the Concert Party acquired shares at 4.5 pence.Any time thereafter the Concert Party just have to buy a single share to be forced into making an offer for the rest of the company at the highest price paid for a share in the previous 12 months - which may be about 1 pence a share if the share price remains where it currently sits.Of course we have a vote on this - but I feel that we have been backed into a corner with nowhere to go - a point which I made to Bill in writing over a year ago which he refused to answer - the email I posted at the time on this bb.Clearly Bill chose to ignore my email - I will leave it up to you to decide why when many of the points raised have subsequently come to pass exactly as predicted.Good luck...
strider p
02 Oct 2015
Re: Uncomfortable Post: A,O.W. Resoundingly Yes ! Do you think it possible in view of the way these matters have unfolded theres any recourse for us private investors to take. I would be more than happy to persue a course of action, if one were possible, to bring this miserable Bod to account.
Antiques Of Woodstock
02 Oct 2015
Uncomfortable Post: Good morning AllAn uncomfortable post to follow detailing facts.On 18th November 2014 when PGD went to the market to raise a load of cash Bill Humphries - Managing Director of Patagonia Gold said: "This fundraising allows Patagonia Gold to accelerate the development of the Cap-Oeste heap leach project which on completion will expand our annual production to approximately 83,000 ounces of gold equivalent (gold + silver).”The Concert Party acquired a volume of shares placing themselves in a situation whereby they were legally obligated to make an ‘Offer' for the company [An offer under Rule 9 of the City Code must be made in cash and at the highest price paid by the person required to make the offer, or any person acting in concert with him, for any interest in shares in the company during the 12 months prior to the announcement of the offer] unless the remaining shareholders voted to waiver this legal obligation at that time – which we did.We all know what happened to the ‘approximately 83,000 ounces of gold equivalent’ target – it miraculously evaporated as soon as the money was raised with the company 3 months later releasing a statement on 19th March 2015 stating: 'Although the studies indicate that the process route and design are well suited to the Cap-Oeste ore the current oxide ore reserves are considered to be insufficient to advance the project at this stage.’83,000 ounces of gold production and the reason for the raising of that capital disappeared overnight but the Concert Party had acquired their controlling position which clearly suited their agenda.1st June 2015 Bill Humphries announces that he is retiring from the Board and will not be standing for re-election at the AGM.8th December 2015 in just under 10 weeks time – the Concert Party will have exceeded the 12 month ruling timeline meaning that they just need to buy one more share to be placed again in a position whereby they are legally obligated under the same AIM rules to make an ‘Offer’ for the company at the highest price they have paid for a share in the last 12 months.May I humbly suggest that should the Concert Party decide to buy another share/s that they will not do so at 4.5 pence with the Offer Price now sitting at about 1.0 pence – which of course means that the Concert Party would be legally obligated to make an Offer for the rest of the company at whatever price they pay for the new share/s they acquire any time after the next 10 week deadline has passed.Is it just me or do the facts surrounding this situation look suspicious at best?Good luck All…
LoveMining
01 Oct 2015
Re: I am still here what next ? Costs up, 2 years of issues with spares though think its the first i have heard if it and cash running out again.Unfortunately an all too familiar story on AIM. But i still fell for it years ago.I really hope they can dig themselves out of this hole ( excuse the pun) but it will be a slow diluted process unless gold doubles and costs are reduced.Good luck those invested.
RedFrameWhiteLight
01 Oct 2015
Re: I am still here what next ? It will need to be some rally!1p on the bid, who'd have thunk it
shugg1e
29 Sep 2015
Re: I am still here what next ? will come back as soon as gold rallies
Antiques Of Woodstock
29 Sep 2015
Re: I am still here what next ? I am still here unfortunately wish I had got out well before I lost all my money . Been here since brancote , that was my first buy of a share was. Excited then .. Sad now though as I have lost all the money I was going to buy my house with . Suppose it serves me right . Still all I have now is hope .. Is this share dead now ?? Aow I have always appreciated your views along with a few others . Just want to say good luck for the miracle We are waiting for .---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---Good morning miss hopefulThanks for your comment regarding my input.My views are always based on what I see as being the reality behind any situation as it unfolds - and whilst I originally was a great believer in PGD's asset and future potential thus my not unsubstantial investment in this company - I like others have witnessed the company being drained of funds and over-diluted with regard to the issuance of additional shares as more and more money was raised to achieve stated objectives which never came to fruition.IMO our management have acted appallingly and have lost any credibility in the city thus the current market cap/share price.The last capital raising at 4.5 pence was a joke - I stated my reasons at the time for not getting involved although some on this bb totally disagreed with my reasoning which is fine because none of us are right all of the time - least of all me.With the share price now sitting at 1.5 pence having dropped a further 66% since that capital raising - we are backed into a corner with nowhere to go - UNLESS a 'rabbit is pulled from the hat' and a 'third party' company takes a long term view and buys into the opportunity presented by the gold that we have sitting in the ground and commits to getting that gold out of the ground for a percentage leaving us with a 'free carry'.As I have stated many times before and been criticised by some for my views - I fear that the only viable option moving forward may be for the Concert Party to take us out whereupon they will run the company as a private concern rather than being Listed - thereafter the assets will be valued on their own merit rather than being valued as they are now purely by those who have traded this stock for short term financial reward.A HUGE difference between 'Price' and 'Value' and our Government along with many others seem oblivious to the damage being done to most small and medium sized Listed companies by those that are allowed to trade shares for a 'quick turn' at the expense of realistic company valuations.UK PLC is reliant on the city for much of it's revenue and it is obvious that the immediate 'tax take' on such activity is deemed to be more important than building a sustainable economy in the future.Taking such a short term approach purely prolongs the inevitable - and at some point in the future UK PLC will 'wake up' to the fact that many of the small and medium sized companies have been strangled due to a lack of being able to raise finance - due to the aforementioned ridiculously low company valuations as expressed by the market caps - which in turn means that tomorrow's employers will just not be there - with any country needing future employers to secure a viable economic future.As to where we are with PGD - your guess is as good as mine - but one thing for sure - we are running out of options and we have been backed into a corner which any suitor will know - should there be any such possibility at this late stage in the game.In closing I know that we were planning to undertake a high definition closely spaced Pole-Dipole geophysical study over the most productive section of the Cap-Oeste/COSE structure - following the five drill-hole infill at Cap-Oeste as announced back in May - but this too has gone quiet.AOW realistic about PGD's future based on facts rather than unfounded optimism.I j
miss hopefull
29 Sep 2015
I am still here what next ? I am still here unfortunately wish I had got out well before I lost all my money . Been here since brancote , that was my first buy of a share was. Excited then .. Sad now though as I have lost all the money I was going to buy my house with . Suppose it serves me right . Still all I have now is hope .. Is this share dead now ?? Aow I have always appreciated your views along with a few others . Just want to say good luck for the miracle We are waiting for .
pipsbunrun
28 Sep 2015
Re: Am i the only one left ?? Pip is still here as i am with Mariana & Landore.....anyone heard anything from Pan.Econ ?he was a good source of knowledge for PGD...Are you hanging in ? what are your thoughts on the future.....as always trying to stay dry & ride the waves....
kooiker
28 Sep 2015
Re: Am i the only one left ?? So am I , unfortunately !
Antiques Of Woodstock
28 Sep 2015
Re: Am i the only one left ?? Has everyone gone ?
---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Good morning KeysiFor what it's worth - I'm still here.Good luck...
ajinbali777
22 Sep 2015
Re: Am i the only one left ?? Second attempt, first one rejected for inappropriate language!I feel like being part of a small group of people clinging to the stern of the Titanic singing Jerusalem or something like, as the ship slips beneath the waves!!With no news or views coming out of PGD it is clear the BOD doesn't give any credence to small investors in this company and IMO trying to get what they can from it! Surely with winter over now in the south, ground defrosted, there should be some news of any drilling time frame. What about the search for the Lamada resource extension, anything from Mt Leon, what of (tongue in cheek!) the second gold room!!??? Come on BOD stop bean counting and do something positive!
firewire1
21 Sep 2015
Re: Am i the only one left ?? Still here Keysi, not much to say as not any news - waiting patiently.FW
BarneyCool
21 Sep 2015
Re: Am i the only one left ?? Unfortunately not Keysi. But I sure do wish I'd left a few years ago. Hanging on for dear life now!
