GREY:LRTNF - Post by User
Post by
Megamisteron Sep 06, 2022 8:54pm
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Post# 34945370
Is PGM Running on Fumes!!!
Is PGM Running on Fumes!!!Question whether or not there is enough operational cashflow for PGM to meet it's $9 miilion (stated) monthly expenses and if so, for how long can they do it?
A drained bank account coupled with $115 million+ in debt obligations means that PGM's access to "new" credit facilities is basically non existent or likely so expensive (cost prohibitive) to be even reasonably contemplated. (Emphasis on "reasonably")
Prospects of ongoing viability seem very, very limited at this juncture. In the absence of a fire sale to a "white night", how long will it be before an implosion (reverse split) of PGM shares is implemented? Like 5 or 10 current shares for 1 new share.
At 50 cents to a $1.00 per share, some "organizations" with deep pockets may want to take a looksee. Obviously dropping the share bloat from a whopping 730 million shares to somewhere between 146 million and 73 million shares would make "things" somewhat easier (more manageable) to "execute" going forward, depending of course on what the current shareholders say to any proposal of a reverse split.
There are so many questions in search of answers. If not given now then hopefully rendered at the upcoming Sept 2022 shareholders' meeting!
Personally would like to know the status of dewatering the old mine shaft. Has this been totally abandoned on the hope that the existing ramp and a new ramp would allow operations to pay their way to the 8 zone?
Always thought using the shaft would be the quickest way to get to (near to) the 8 zone, while understanding the shaft's limitations as to the amount ore that could be brought up to the mill for processing.
Wonder how many other Red Lake gold miners are exclusively ramping versus shafting or even doing both? (Obviously open pit mining, as Kinross wants to do with its Great Bear asset, is different mining).
Well, it looks like I'm going to have to, once again, delay buying that new truck for at least another year!! Thanks PGM
Just my 2 cents worth. Regards to all!