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There are currently 115m o/s but there are warrants out at 0.12 per share for another ~126M to have a maximum dilution of 241M shares when they are all exercised. I would expect them to be exercised once we have a bottom above 0.12.
I have been contemplating the confidentiality treatments as well, not sure what they could be. I hope you are right with your assessment however.
I really don't think we will see $1.00 share price until some non-dilutive funding is secured. Judging from how this stock has acted particularly in the recent history, I would have to guess that even a solid PFS PR by itself, might not let the stock even hit 0.20 I hope I'm wrong, but there are some serious people keeping this stock low. Even the debt amendment news from last week(which to me was fantastic news) didn't do much of anything to the share price. I think the public is waiting for news of substance to let this bad boy ride.
One thing your assessment doesn't mention is where exactly do you think they will get the 1B$ necessary funding to actually build the mine? Surely not from shareholders.
I think it will come, just how fast and from which direction is the question.
? They have until September to regain compliance. It won't come "any time now".
"On April 23, 2013, we received written notification from The Nasdaq Stock Market that for the last 30 consecutive business days, the bid price of our common stock had closed below the minimum $1.00 per share requirement for continued inclusion on the Nasdaq Capital Market based on Listing Rule 5550(a)(1). Our common stock remains listed on the Nasdaq Capital Market under the symbol PGRX. Under Listing Rule 5810(c)(3)(A), we have 180 calendar days, or until September 20, 2013, to regain compliance. If at any time before then, our common stock has a closing bid price of $1.00 or more for a minimum of 10 consecutive business days, Nasdaq staff will notify us that we have regained compliance."
Level 2. They'll drop back down closer to open when other MM's start to come in. It's only a 100 buy order at 0.0987
I have to be inclined to believe it'd be the former considering the location. That's a lot of money to be putting down to travel to just shoot 'have a few beers' with the guys. Again, that's just me being optimistic.
Accidental double post --
0.97 entry here as well. Averaged down to a 0.27 right now. Don't have anymore to load down here, however. I still think that within 6 months this company can get back to that point and that we will. This investors meeting should be the first of a series of (hopefully) good things to come.
Hypothetically, let's say they managed to get shareholder approval for the RS. On the same day or in days prior to implementing it, they released a good PFS proving the potential profitability of the company.
Do you think that they would stand a chance at NOT losing value in the process? Or do you all think an RS is basically a death sentence?
Morgan Stanley also got in around 0.30 mark 3.7M shares.
I'm even more ready for l2 hunters post on it as if there's actually premarket activity.
Oh, I will be. But I'm genuinely interested in the outcome of this company and like to keep up on it. I may want to reinvest later on down the line if they get their ducks in a row.
October is still a few months away, I still don't see why this stock can't get to 1.00$ a share before then. To me, a successful PFS and word of investor intrigue/offer could easily send this to that point. Or at least much much closer where a 1:2 would be all that it would need.
I don't see anything good out of doing a reverse split, let alone of the size of 1:50
I think as the month progresses we'll see more and more holders with the PFS release at an unknown time. I think Friday we'll close in the 0.10's or even .11's because of an early week release speculation.
Anyone's guess though. We'll see.
The potash market in the holbrook basin
I misread your post as stating funding milestones. The PFS is already paid for, so that -should- lead to outside investments if it is good. And in turn those will pay for the DFS(and fulfill the escrow requirements)
This all changes if the PFS does not yield any investors. But we aren't there yet so it's all speculation. Personally, I think the market is too big to not tap in if the results are good. And before the end of it, it'll probably be just some chinese giant buying it out anyway.
There are no more funding milestones as per the amended debt agreement last week. No money is due till 2015.
This will allow them to explore options more freely and without the pressure for short term capital.
A lot of the potential success hinges on the PFS due out sometime this month. Good results should drive investors back to them. Be it a JV/buyout/even another Apollo arrangement isn't out of the question.
It's pretty much a waiting game till then from what I see.
If you hold long enough, you very well may still get your ferrari dream ;)
Agreed, I think we're poised for a solid week of uptrends based on speculation of the forthcoming PFS(exact date unknown). Should reach the 0.10's sometime Monday.
I also think we've seen the last of bad news for a while given the amendments, a period of positivity/neutrality should restore some confidence and begin the climb back up the ladder. Won't happen immediately, but long I still see good things.
I bought some more today, I think the history of this stock is keeping investors wary until real news of substance arrives(PFS, non-dilutive funding, other business related news) I honestly don't see any big gap ups until that happens. A steady overall climb to ~ 0.12 by next week is expected from my perspective. It'll bounce back tomorrow to the 9's or 10's with a probable volume around 8M. I'm here for the long haul, so this doesn't bother me much.
Just my opinion though.
So, where are the 41 million shares they sold for the offering? Wasn't it 72.6m before it?
200k and long here
pre-feasibility study due out sometime in July.
I think they are just trying to buy time till the PFS is released and real investors (hopefully) come knocking.
News of the funding milestone extension. Today was they day they had to have it finalized. Tomorrow morning will show what the new terms are.
I think it's gonna be good news, they are waiting for premarket to release.
added 100k long to average down today, here's to hoping for good afterhours news.
Final prospectus out this morning, so today is my guess given the June 26th closing.
Do you guys think Karlsson will be willing to extend this funding milestone today?
We'll have to see how the debt extension is handled as well. Post-market monday or pre-tuesday and we should know that. If they can get the June 17th funding requirement removed entirely, and simply add it onto the September amount, I feel as if that would be a very good thing. This would actually give them a few months to get non-dillutive funding. These short-term requirements are forcing the company into a corner making terrible decisions to make the few $ they need. Give them 3 months, and maybe we can see something truly positive out of them.
However, if Karllson only gives them another month to raise the money, I fear nothing but bad things.
Looks to be getting scary, indeed. I don't see who would invest that kind of money into this company considering the dwindling exposure and lack of positive press. I do hope they try to keep us updated on their progress.
So the big question is, is this the true bottom? Thinking of averaging down, but unsure...
So as it stands, what do you guys think is the general direction this company is headed? Are they trying to raise the capital to essentially prove the worth of what they are sitting on in hopes of finding someone to buy them out/massively fund them?
I suppose I'm a bit confused on the longer term ideas, as it seems like all of these amounts that are being raised as per the restructuring agreement are so low relative to what is necessary to actually build the mine.
I'm with you there, really hoping for some good news next week. People are starting to lose faith without any information regarding potential moves since the restructuring.
Somehow I think this will continue downward the remainder of the week towards the 0.25 Karlsson mark for mass buy-ins. I'm hoping it's because they know good things are coming and want to get in before it's too late as naive as that thought might be. One thing is for certain, lots will happen in the next 3 weeks with the May 15th date being so critical. Crossing my fingers for good things.
Doubled my holdings this afternoon. I still have faith in Mr. Barber to get things done.
So, Brian Wallace just resigned with no immediate plans to replace him at PGRX. I'm not entirely sure what to make of this move, anyone care to give their insight?