Post by
oiltar on Jul 28, 2015 10:47am
Do I worry about PGD?
Yes I do.My biggest fear is not diamond drill results,its not funding ,its not share count,its not weather,its nor the PEA, its not permitting.My biggest fear id the Friedland brothers get fed up growing the asset value by oustanding results to be sold into on the great progress by investors so much so that they conclude that PGD needs to be off public markets and taken private.With the current share price this is very inviting to them to bid for all the oustanding shares they do not own for say 50 cents.or net to them about $100 million.
For only $100 million they could end up with a $20 billion diamond district that would put both brothers high up on the Forbes 400 Richest Americans List.
That would shut all of us out of this great diamond discovery.They would be loath to do it as it could destroy the Friedlands majic track record of finding world class deposits and selling them to the majors making many shareholders rich along the way.
But if these shares stay this depressed much longer they night be forced to do it as we can not do any more financing at current prices or it could destroy this story for good to issue another 300 million shares.
By taking PGD private the Friedlands would protect their investment and avoid public anger of issuing shares at ever lower prices,That would destroy the Friedland Majic more so than taking it all for themselves.
If the share price does not recover then it may not even get the chance to Eric and Robert feel they were betrayed by minor shareholders who refused to give them credit for this discovery.
I have alwat thought PGD would get a bid but it might be from with in.And at 50 cents a share investors in this market will tender faster than they could sell thier Granmother.
Comment by
cudjo on Jul 28, 2015 12:04pm
The markets are just not that stupid. They do fear what you do not.
Comment by
Fivecarat on Jul 28, 2015 12:31pm
Yikes my spelling is a little off this morning!