Ann: Las Lagunas Production Update-PGI.AX, page-4

From a previous post...

One does not need to post $17 with an IMHO caveat.

The current silver price at weeks close is USD 19.74.  The new range for silver will be 18.40 to 22.50.

Gold closed over USD 1342.   The new range for gold will be 1333 to 1388.

...one week later

USD 1370
USD 20.12

You may like to re-assess the market cap.

Imagine how everyone will feel that by the end of September with at CAMIF 40 m -  I'll type that out - forty million 0.15c oppies  - are in the money and all shareholders are reduced by 20% in value.  That means all the current POG action will have added no extra value to existing SH, and PGI will get a measly $6m.  It might look good against the current market cap and net tangible assets, but in the grand scheme its going to look a pittance by December.

Looking at the balance sheet,  Total Net Assets were 28.5m, intangibles (basically money wasted for no assets and goodwill, in other words nothing to show for it)   -20m.  So the net tangible assets were 8.5m.

Mercury with 15.9%  and the "other" CAMIF with 9.3% and our generous lenders at CAMIF2 who suddenly found the light decided 20% equity participation in the future was a good bet. (who was proposing the CAMIF1 and CAMIF2 were different?)

Now...what if all three guys (and gals - as I'm all for social equity) "got together"?  Well,  someone ends up with 42.5% of the consolidated entity.

This is the final cost of the last 6 years of our managements skill and over-confidence in their ability.  Older SH reduced to close to half of the ownership. Getting tired of hearing about what a good job our leaders have done.

So when you do the calculation on what you value PGI at, just remember to divide by 172m shares.

First new word you need to learn is "Nihao".

Just try and get your head around the new circumstances.  BJ is on borrowed time whatever way you look at it. I am sure he knows it full well.

You can use your new word when you meet the new Directors.