GREY:PGDIF - Post by User
Comment by
charnion May 24, 2018 11:57am
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Post# 28075537
RE:RE:Like Diamonds - PGD is a story of survival and growth
RE:RE:Like Diamonds - PGD is a story of survival and growth From my understanding of a long time ago now, DeBeers parent, Anglo pulled back on new expenditures in the mining downturn which was severe as you know. Remember Anglo also walked away from Northern Dynasty after spending close to $580 million USD on that project back in those long forgotten days. Us little guys shrink back in bad times with little monies and the big boys do the same with big monies to survive. Just human nature. DeBeers would have continued with the project if they had the backing from the parent.
The Rights offerings helped the company survive. Thank God for leadership with deep pockets that participated in the Rights offerings or there might have been no PGD to talk or comment about.