@givme yes,you don't like Gamble, but his post shows what was happening last weeks! Time has changed for PHD!
Here again:
What a week it has been!!
We got news a week ago Friday in the form of a Corporate Update
https://stockhouse.com/news/press-releases/2023/02/22/corporate-update
We got news on Monday last week in a Financial Update
https://stockhouse.com/news/press-releases/2023/02/27/providence-gold-mines-inc-financial-update
On Wendesday we get what can only be described as a Marketing Update
https://stockhouse.com/news/press-releases/2023/03/01/providence-gold-mines-inc-engages-with-prominent-financing-group
And now over the weekend, we get the official notice of the Insider buy in the PP
https://www.sedi.ca/sedi/SVTItdOneLineDetailDerivIss?locale=en_CA
TO RECAP
Ron, our CEO, purchases $30,100 of shares at 75% above current market price (as we were at 0.4 at the time)!!! (34.7% of PP)
Yes, you read that right....purchased in PP at 0.07 versus market price of 0.04 last week, pushing the share price to 0.05 mid week
Financing totalled $86,580, which means non insiders participated for $56,480 also above current market price!!!
This Fabulous news on top of the $277,838 of debt retired per Monday's press release (excerpt below)
"The Board has unanimously accepted their offer and has retired $277,838 of debt to this group. To be clear, this is not a debt for shares settlement but a complete forgiveness of the debt by these certain Insiders and professionals."
So, not only do they retire debt - and specifically NOT as a shares for debt - but actual true and complete forgiveness, an insider puts even more skin in the game.
So from reading the financials, it seems to me that some of the above debt was owed to Ron, for his services last year ... And that means that not only did he forego shares for debt - he forgave the debt - he puts even more $$ into the company - at 0.07 to limit dilution to existing shareholders - and he wasn't alone - non insiders also participated to the tune of $56,480 also at 0.07
Show me another Junior Minor that has had management done that recently!!!
A plan (as there obviously is one) to move the company forward, limit dilution to existing shareholders,and raise the needed funds to drill and start the process of proving up the resource that is almost certainly there in those 6 mines.
And to top it all off - excellent news was added Wednesday on top of everything else, as they use this new sourced cash to proceed full steam ahead to secure financing for the much anticipated drill program !!!
WELL DONE RON AND TEAM!!!!