GREY:PGDIF - Post by User
Comment by
Durkastanon Oct 26, 2010 8:46am
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Post# 17611417
RE: RE: The private placement has not closed yet
RE: RE: The private placement has not closed yetIt's been over a month now since the last news from Chidliak.
This PP is really taking a long time. If there was a lot of institutional interest, we would have heard of the closing by now. It's only 10 million bucks, for crying out loud. Not an unreasonably sized financing for a company of PGD's market cap. They did a 6 million financing at $3/share in the dead of spring - when the market price was below $2 - and it closed in a week.
I would really hate to hear that the price of the PP has been lowered to 2.25. Not only would it raise less money, but you'd be able to feel all of the air being sucked out of the room as the stock would sell off on lower confidence. I've seen it happen many times with other companies. As much as I'd hate that, at least we would be able to start moving forward with the release of results.
I'm plenty patient, obviously... I've been a shareholder for quite some time now and even added to my position a bit at a hair over 2 bucks. But we are now smack in the middle of what should be our prime-time for results, and I'm starting to chomp at the bit.
It's like waking up at 6am on Christmas morning as kids and being told that we have to wait to open our presents.