RE:upcoming dates A lot of news but the the share price is not moving. Despite a stable business model and stable net profits year after year, which have grown to around 70 million cash without the IPO and the well-known 100 million cash with the IPO. Despite several assurances to me personally and in the share buyback programs, nothing has been done for the shareholders and the share price.
Share (non)buyback (1)-SCAM, share buyback (2) only 5 million of the possible 50 million shares were bought back. Despite the considerable cash reserves and a completely undervalued market cap. These completely unacceptable buyback programs have done nothing for the share price.
The IPO raised around 30 million. Only 55% is to be used for the purchase of further mining assets. www1.hkexnews.hk/listedco/listconews/sehk/...024032501073.pdf pdf.
It remains to be seen what price/performance ratio the new acquisition will achieve and how high the bill will be in the end.
According to the latest information, the process has been delayed by 3 months and the following points should now be completed by “July 2024”.
“Therefore, the Group expects that the above actions what were intended to have been achieved by 31 March 2024 will be delayed to July 2024 (the “Delay”). As a result, the expected time to complete the acquisition and the final capital contribution made by the Group will also be delayed. Hence, the completion of the future plan of Group to expand its business through selective acquisitions of the gold mining assets is expected to be postponed to February 2025.”
It was
also originally expected that by March 31, 2024:
(i) a formal definitive agreement with the owner of the potential target would be entered
into;
(ii) relevant regulatory approvals would be applied for, including the business license;
(iii) first capital contribution conducted; and
(iv) mining assets into the newly established sino-foreign joint venture would be injected.
www1.hkexnews.hk/listedco/listconews/sehk/...024032501073.pdf pdf.
Q1 figures below those expected from the company presentation
Q2 numbers (half year numbers) should be released by PRG by 08/15. MJS should then follow. It remains to be seen whether the expected gold grade will be achieved. The gold price for Q2 should be around 2350. More should be earned than in Q1
Summary:
- Q1 below the expected gold grade and thus below the expected net profit. Nevertheless more than 5mio net profit
- Q2 figures of PRG until 15.08
- Information on the new acquisition of the mining assets with far-reaching content (see above)
-Almost 7 months after the IPO of PRG, which was used as justification why nothing can be done for the shareholders, still no news from MGM on how things should continue for us and how we should benefit from the success of the last 3 years, from the IPO PRG and in the future.
Simply nothing. It is an impertinence that is unparalleled. Nevertheless, the MGM clown gang was confirmed with almost 100% (all of the major shareholders, small shareholders probably hardly voted at all).
As always, there are some fundamentally positive and upcoming dates with very interesting information. Unfortunately, the MGM has failed to meet all its deadlines and do something for its shareholders for the past 3 years. This makes it unlikely that further positive fundamental data will have a positive impact on the share price.
hope this was helpful for some of you
greetings
richard
Translated with DeepL.com (free version)