Lef I didnt realise all our gold projects over there were jvs with Zari! I had thought this was a very good and prudent deal for us at PEK. If we get control of all our current gold projects thrown in this is a great deal!
As psk has said the implications of this deal have gone under the radar with the current market apathy but the more I understand about this deal the more I see it as a great coup for PEK shareholders. We do need clarification of how the funds are to be raised(do not see raising this amount as any problem), but some people dont like any amount of uncertainty.
Some guys dont like any amount of spending or raising money either. But you do have to spend money to make money and this is the best spent money since PEK raised cash to do the current drilling I think.
It very much depends if you have a short term outlook or a long term outlook on your PEK investment. And Im not saying either is right or wrong. Some are trying for a smaller win over the short term, some are waiting for a bigger gain over the longer term. We all have our own lives to live and our own financial plans. I think especially those with shorter term outlooks will not like the sounds of any raising for long term advantage. I understand that. But for my outlook, which is long I love it.
I see 6 mill as a pittance to get control of Ngualla and the gold as well. Amazing value IMHO.
I would like more details, which Im sure will be revealed, but at this point in time Im very happy. I will sit back, wait for more probobly great drill results and more news of how this current deal is to be carried out knowing we have compitent hard working managment and more great resources have most small cap companies could ever hope to hold. And this is just the beginning!
Tretch
PEK Price at posting:
43.6¢ Sentiment: Buy Disclosure: Held
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