OTCPK:PGMFF - Post by User
Comment by
goldlocatoron Apr 23, 2022 8:00am
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Post# 34625948
RE:RE:RE:RE:RE:Interesting Developments
RE:RE:RE:RE:RE:Interesting DevelopmentsThat Apr 21 NR does call them CDE Flow Through Shares. Anyway if the can raise money with FTS great and if they can't the dilution will be higher but first they have to find someone to buy the shares. I can leave all that to the tax experts. I am NOT one of them. I prefer spending time looking for new prospecting targets than tax breaks.
Kirk what is your take on this portion of the Apr 22/22 NR. When I read it my level of optimism drops. My take is basically they have a stay of execution until May 15. If they can find buyers for the shares they can carry on. But the company is saying they still need more $$$. I am wondering if anyone will buy the new shares unless the additional money is secured first.
Based on current cost and revenue projections, the Company anticipates it will need additional capital (in addition to the Additional Debt Facility and Equity Raise) to transition the Company to a state of positive site-level cash flow (expected in Q3 2022) and to complete the updated Life of Mine plan and NI 43-101 Technical Report (expected in Q4 2022). The Company is evaluating a range of strategic and potential financing alternatives to source this capital. There can be no assurance that the Company will be able to satisfy the conditions for the Additional Credit Facility to close or that the Company will be able to close the Equity Raise or obtain the additional financing necessary for it to meet its objectives and to comply with the Credit Agreement and the Additional Credit Facility.