I got an email yesterday from DnD which said they were meeting with BJ today to discuss progress. I suppose he felt he had to tell them and so he also told everybody else via a press release.
However, I agree with the above comments that there were people who knew already and this seems to have influenced trading in recent days.
It came as a complete shock to me, but I had noticed a change in market sentiment for PGI and had no idea why.
My take on this is that BJ will seek more funds via his network, probably at a lower price than the recent CR.
The selldown today could have been greater - the announcement was only out half the trading day.
GLA.
loki
PGI Price at posting:
11.5¢ Sentiment: None Disclosure: Held
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