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Barclays Bk PLC iPath Dow JonesUBS Platinum Subindex Total Return ETN Exp 24th Jun 2038 V.PGM


Primary Symbol: PGMFF

Financial Services Banks - Global
Barclays PLC is a diversified bank with five divisions comprising Barclays UK, Barclays UK Corporate Bank, Barclays Private Bank and Wealth Management, Barclays Investment Bank and Barclays US Consumer Bank. The Barclays UK division represents businesses that sit within the United Kingdom ring-fenced bank, Barclays Bank UK PLC and its subsidiaries, and comprises Personal Banking, Business Banking and Barclaycard Consumer UK. The Barclays UK Corporate Bank division offers lending, trade and working capital, liquidity, payments, and FX solutions for corporate clients. Barclays Private Bank and Wealth Management division comprises the Private Bank, Wealth Management, and Investments businesses. Barclays Investment Bank division incorporates the Global Markets, Investment Banking, and International Corporate Banking businesses. Barclays US Consumer Bank division represents the United States credit card business, focused in the partnership market, as well as an online deposit franchise.


OTCPK:PGMFF - Post by User

Barclays Bk PLC iPath Dow JonesUBS Platinum Subindex Total Return ETN Exp 24th Jun 2038 > Could PGM go belly up?
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Comment by Megamisteron Aug 18, 2021 2:06pm
141 Views
Post# 33724441

RE:RE:Could PGM go belly up?

RE:RE:Could PGM go belly up?Goldlocator...

I agree wholeheartedly that PGM is NOT  Rubicon 2.0.  However I do not believe, as you suggest, Rubicon's shutdown of operations was solely a permitting issue.

"Shortly after mine startup and due to "an erroneous resource calculation", gold estimates for the Phoenix mine dropped (were adjusted) from 3.3 million oz of gold to 413,000 oz of gold. This revelation, along with the Company's admission (excuse) of a "geologically challenging underground environment" led to a halt in all underground activity with workers being laid off and the Company filing for creditor protection"

 "Erroneous resource calculations" AND a "geologically challenging underground environment" were Rubicon's downfall. Rubicon rushed into operations without sufficient drilling results to support (validate?) the start of operations. 

Regarding Evolution Mining, there is a strong belief (concensus?) that Evolution bought Battle North (formerly Rubicon) for it's milling infrastructure and capabilities moreso than for it's land claims/holdings.    

Regards...

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