I've defended George and the team for quite some time relating to negative comments. I'm still upbeat about the potential that PGD has and am sure there is plenty of good work being done in the background.
The thing that does concern me with PGD is the minimal newsflow to shareholders. PGD have some excellent projects with outstanding potential, however, the newsflow is minimal and announcements aren't detailed and leaves shareholders guessing in many cases about future plans and timelines and geological details. Shareholders need to be reminded of the ongoing potential and plans that the company has for exploring all projects.
The CR has been unfortunate and while from the outside it looks like a poor decision and poor timing, I believe they have made the decisions they have due to factors that we as shareholders are probably unaware of. The reasoning for the CR timing at the end of the year and two extensions now haven't been disclosed and that's never a good thing when shareholders are left to guess what is going on.
PGD, as others have mentioned, do need to sell their story. Conference presentations are a must for exploration companies to create shareholder enthusiasm. Unfortunately this isn't happening and that's one reason that PGD is struggling to attract new investors and therefore funding for exploration.
I'm hanging in there and supporting the CR for the time being, however, the next 12 months will determine whether I remain a long term holder or not.
PGD Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
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