The issue here is PRC running out of working capital before that first shipment occurs.
Mid-Nov 2009 is now a little nebulous Jan-Mar 2010 and they state it may take another "couple of months" to determine the need for additional funds. However, it is apparent that the PRC board has already considered the possibility of further funding given the comments in the announcement.
I feel PRC need to be more transparent and regular with their production achievements (or otherwise), as they were with the tunnelling progress, so shareholders can track the progress towards Q1 2010.
I trust PRC won't disappear into a "black hole" for the next 3 months.
Having said all that, if the options oblige and retrace I'll be happy to pick up some more, 18 months is a long time in mining ;-)
PRC Price at posting:
80.5¢ Sentiment: Hold Disclosure: Held
