Infill drilling at the main site coupled with sample drillings just now starting to come in form a pretty solid base to go into the Fall/Winter with. I hope the weather holds long enough to get the electrical lines in. I'd like to see Quartermain fast track this mine in every way possible.
March Calls $5,, $6,, and $7 still the way to invest in PVG. This stock is much stronger than I figured it would be. All good I guess on these sample drillings..
5k sub $5 and have calls well in the money. But if you buy here it may and need to roll back to To $5.40ish so don't start dumping recklessly..
Really good stock for the future but it's maturity is several years out.
Yes, dave. The capex req was 747mil, but that was before the 80million from Zijin mining. That, coupled with the exchange rate benefit, does bring them close to the initial capex req amt. in terms of Canadian dollars. What they're hoping is that this package can be refinanced with any additional amt added in a few years. If any more stock dilution, it will at least be delayed a few more years.
Sentiment: Strong Buy
The press release says the capex requirement is for US$747 million so the US$540 is short US$207 million, but per the presser, this is by design as they believe they will have better conditions to fund the remaining as time passes and the estimate was based on 0.92 exchange rate and current exchange rate is about 0.756 which will help as 70% is Canadian sourced per the slide presentation I just went through. The presser suggest they are working to quantify that aspect now. Chances are there will be more stock dilution, but it should be reasonable. It is a very encouraging development.
Go figure. Maybe tomorrow after the presentation at the Denver conference it will take off. The best part was that in terms of Canadian dollars this comes to the 750 million they were going to finance at the onset. You would think that what they save from borrowing when the C dollar is so low against the U.S dollar would lead to a same percentage rise in the stock price as the 750m was baked in already.
Kind of a luke-warm market response though. Trading below the price of equity financing just announced and on a big up day for gold.
Add in we may be seeing some preliminary drill results on the Kitchen and Flow zones and we could see a considerable jump in share price.
I hope PVG hits the ground in a sprint to start construction. Fast tracking this mine seems imperative with the unstable world economy and a host of other factors that could launch gold prices.
... ... Great... I have been thinking it will be tomorrow for some time now... NOW I won't be able to sleep. Thanks a lot:)
None. I have been waiting for it all weekend. I went to the website this morning and even clicked on the link only to see I was a day early. Then, a few hours later it disappeared. I wonder if they are finalizing financing and weren't ready to reveal it yet.
I never seen anything on a webcast... Where did you see it? There is a 9 June webcast. Any chance you are confused?
Has been cancelled. As of a few minutes ago the link for the webcast was removed and any mention of it on the webpage was removed as well. What's up with that?
Given how much PVG brought in $-wise from the 200 ton sample I'd like to see them start with a smaller plant and self-fund as much as possible. Maybe we could eliminate the equity funding or minimize it that way.
Regardless, I'd like to see this project fast-tracked to the max on a 24/7 schedule if possible. There's way too much instability world wide to NOT get this thing up and producing ASAP!
And they have already raised 100mil and Silver Standard, so they only need another 650mil. I think they said 50% from borrowing, 25% from metal stream, and 25% from equity. However, they don't have to build such a large plant. They could go smaller to start mining sooner and expand later to process full tonnage they originally planned on.
Sentiment: Strong Buy
If memory serves the financing package will come in around 740 to 760 million...way less than most start ups and a much quicker estimated payback.
Alright! Now, let's nail down financing and fast-track this mine. If drill results are positive on the Flow and Kitchen zones...will that enhance the financing package? Anyone?