Why are many in a rush to get the General Meeting to ratify the issue of 40m options?
I'm not.
And I am confident that BJ is not.
Remember "Time is Money".
But remember in our case the more time we have the more money we will have and this is becoming more the case now that we are moving into utilising the higher priced part of the hedge.
Remember for every $100 lift in prices at which PGI sells gold it makes about an extra $100k per week.
And with more money the more power PGI has.
So what happens when we eventually get to the GM and the shareholders do not ratify the issue of the options.
Do we revert to the previous conditions of the loan?
Unlikely. Too many things have changed since then.
So its back to negotiating but this time PGI will not be in such a tight corner as they were in June with a balloon payment pending and little cash.
Times are a-changing.
Why are many in a rush to get the General Meeting to ratify the...
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