GREY:PGDIF - Post by User
Comment by
beachbum1on Sep 20, 2011 3:41pm
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Post# 19063061
RE: RE: Kaiser
RE: RE: KaiserI recall that comment as well. He grinned like a cheshire cat when he was asked the question. If you recall, i believe it was on a BNN interview where he was interviewed with the president of stornoway or one of the other companies ... they did them in series ... and he was asked about the releationship with BHP and the fact that they did not opt in. He grinned an said they have a great relationship and quickly changed topic to say that whether it is with BHP or someone else there will be a mine on that site. In saying that i note he was talking about Chidliak.
for any of those who are industrious and doubting you could look at the case R. v. Edward Walter Wenger (PEISCTD - a decision of Justice Mitchell), wherein the court reviewed comments along those lines in a situation where it was later found not to be the case, and on the strength of that and other things found Mr. Wenger to be guilty of conspiring to commit a fraud.
So, we have to weigh all of the information out there. I don't see, from a legal or practical standpoint how he could have made such a comment unless he was fairly sure theses were economical pipes. So you start from that standpoint.
The next question is what are our shares worth. Well in response to that i seem to recall that the other CEO he was doing the joint interview with stating that shares in his company were trading at around $6 at the time. So at the end of the day, assuming the two to have taken similar courses, if we hold out PGD may eventually get there.
I note as well, that to the best of my recollection the other CEO also said that PGD is much larger than they were and that he expects great things out of them.
At the end of the day this stock may just be trading down on a bad economy, a lack of news and a failure to meet expectations that were set too high in the first place. It may well be fine. Is it the next Diavik or Ekati ... only time will tell ... all i can say though is that it would do managment well to take note of the current share price and the seemingly unstoppable slide it is on in deciding how they plan to move foward with their shareholder relations.