"Proceeding with the Recapitalization gives the Company the financial security and certainty needed to pursue its longer-term growth objectives at LDI," said Phil du Toit, President and CEO."
So they get $25M bridge loan and $50 rights offers money. With the mill still shut down that won't last long. "longer-term..."????
I'm pretty sure MOE won't let them resume operations at very high rate (more than 5000TPD) so that huge pile of ore will just sit there if the keep raising additional 5000TPD each day. I see a furlough coming to slow cash burn. Meanwhile PD prices have tanked.
Still no update on spill or mill status. Guess it's just BAU at NAP. :-)
R/S is built into the re-cap already. IMO BAM will buy out the 6% db and 2% common holders and then own 100%. They they can do whatever they please. With the latest TMF issues selling right now may be a hard sell.
I have sold most of my SWC. Their earnings are highly leveraged to PD price as all miners are. Surely at 600 they won't make much money. SWC a little hard to analyze since many of their numbers are combined PD/PT. Could do it if I had the urge.
Well, you know my stance on PD - long term bear. Time after time the reasons for price rise never come to fruition. No one looks at the long term bear factors of which there are several. I have not seen an original thought about PD macro issues for a couple of years.
I didn't say 600 was imminent , just that as I read the TeA leaves if 700 breaks next support is 600. How long it will take to test this support ? Who knows, maybe never happens. Right now, showing the various time scale charts to someone and asking them their buy/sell/hold opinion (not telling them they are charts of PD) and what do you think the answers will be?
As for a 100 to 300koz deficient , IMO that is just background noise considering funds hold between 2 and 3 M oz at least and the downward macro issues.
Unknown. Just seem to be bigger players today. Unusual to see bids/offers for more than 5000 shares. No news expected until Q2 earnings in mid-July.
The Siemens "deal" is not directly with Siemens. MCP supplies REE to a Japanese company which turns it into the products Siemens needs. The Japaneses company probably adds the most value and will benefit the most. Who makes more money - they guy who sells wholesale cheese (2.25/lb) or the guy who sells ONE plain slice for 2.00?
"Bell will correct me and say it is every 3.5 seconds!"
LOL As a fanatic for facts , the number in 2013 for the US was about 8.0 seconds. :-)
What is interesting is that if you look at other destroyed stocks the message boards look exactly the same. Just change the symbol. MCP comes to mind. Stock down from $80 to .40 MCP history very similar to NAP - over budget, over schedule , underperforming projects, massive debt and mgt with no epts. The also faced a crash in the price of their products. Upcoming re-org there also.
"When will the ever learn, when will they ever learn?"
Same enchantment with a penny stock. People like to say they own 100,000 shares (of anything). Doesn't matter that NAP will soon be under .01 So they pay .035 and hope.
It is very likely you will get more as a offset against gains than you will if you will hold it. If for example you bought at .50 you will have a .46 loss. In a 25% tax bracket that will be worth .12. PALDF would have to go to .16 to do as well as taking the loss. And if PALDF goes down more? The hardest part of investing is selling a losing stock - not only is it the money but the admission that you were wrong. That's what stops are for - to take the emotion out of it. GL
First of all you will "get" nothing. You will keep the shares you have but additional shares will be issued to BAM and the deb holders so that current stockholders will then hold 2% of PAL vs the 100% they now hold. That would be a 50:1 dilution. It would not be unreasonable for the stock to then trade well under .01. Concurrent with this dilution there will be a reverse split - could be anywhere from 1:10 to 1:40 so when it happens the price mayl look higher but you will have many less shares.
Also it doesn't matter how many shares holders there are but the number of shares they hold.
I agree. If 730 doesn't hold then 700 looks like next support and then I see nothing until 600. Strong dollar is a continuing headwind. Wonder how close the vote was.
I don't like a bonus tied only to something not under miners' control. If PD tanks can lead to bad feeling.
A two pronged bonus tied to oz produced and Pd price (with a floor) might be better. But that is very close to profit sharing bonus which might be the simpler solution.
I didn't mention it (or anything else) because I have no first hand knowledge. Just quoting the CBC article. You beef is with them (and NAP for not releasing info that clarifies (!) the situation).
cbc DOT CA /news/canada/thunder-bay/lac-des-iles-tailings-pond-overflow-raises-concerns-1.3104275
"The Ministry of the Environment says the release so far involves 120,000 cubic metres of water, with elevated levels of suspended solids, aluminum and iron."
For those metrically challenged 120,000 cubic meters is 31.7 million gallons = 120M liters