Ann: Prospectus - non renounceable rights issue, page-2

I think Brian as always, is telling it as it is. Frustrating situation to be in. Great long term growth potential, but forever hobbled by the god-damn debt (I wish we had never taken it on!)

I cannot fault his dedication to the company (putting $500k into the SPP + agreeing to convert his $1.6 million loan into shares at the same price, basically he's putting $2 million in!), which makes it even more frustrating as when I imagine what could have been.

The dilution really hurts. The only thing that can 'save' us now is a higher gold price. To think that just a few months ago, we almost had the entire borrowings refinanced. I don't know how many times I have said this on HC, but its damn hard investing in the mining sector. The only solace I take is that BJ will still have a blocking stake in PGI, so we cannot get bought out one day for $20 bucks.

I cannot help but wonder why the DR is not willing to take a bigger part in PGI. It could be a real long term job creator and income stream for the struggling country, but it would seem politics wins they day.