I was encouraged by this quarterly...the blocks are starting to move into place and there's more certainty happening.
Sure we mised guidance again, but the gap between budget and actual is narrowing.
We have all been victims of a number of larger holders wanting to exit at the same time.
Market cap of around $17m v an asset with a replacement value of $100m and an estimated value to the Chinese of a similar amount. Yeah, I think I'll hold.
There seems to be no pressure from Mac Bank and based on the 2015 budget there's ample scope to pay them down.
The North American deal has reached agreement in principle and the Chinese are advancing matters in Feb/March (hooefully...but this will be difficult to pull off. Who has ever had a good experience dealing with the Chinese?)
The granting of permits is a matter beyond our control and they (the Dom govt) obviously work on island time! We just have to be patient.
PGI Price at posting:
1.9¢ Sentiment: None Disclosure: Held
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