Providence Gold Mines Inc V.PHD

FINANCING PHD

[MrGoldinvest]

WITH THE WORLD FINANCIAL MARKETS BLOWING UP THE FACT THAT PHD HAS SEVERAL PARTIES INTERESTED IN THEIR FINANCING IS REMARKABLE .

 

OF COURSE THINKS COULD MOVE QUICKER, HOWEVER, PHD IS MOVING IN THE RIGHT DIRECTION!

 

[Avocadopit]

"The Company is presently in negotiation with a funding source for a convertible equity financing in the amount of $1,300,000 USD." At what cost? When penny stocks are unable to raise funds via stock offerings they resort to convertible notes. Generally that is the path to ultimate failure.  Ron needs to find a way to process the stockpile, maybe via contract mining. We discussed

[givemeabreak1]

AvoPit I doubt a anyone is going to send a portable mill in for a months work for only 50% of the income.  Try 80-90%.  I think PHD would jump at 50% lol.  

[Avocadopit]

Ron had an offer for just that. 50%. He turned it down, as he claimed he wanted to do it himself. What he did not tell us was that he is incapable of doing that. Ron is a mine developer only, he has zero operating experience. Never brought a mine into production. I wish i had thought to ask that before I invested.