DEG 0.80% $1.24 de grey mining limited

Since, trading in all the Pilbara stocks is really slow, I...

  1. 209 Posts.
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    Since, trading in all the Pilbara stocks is really slow, I thought I'd try take a gander into Pacton's news releases to get a timeline of events. Here a summary.

    1) Up to the 3rd quarter of 2017 Pacton had 3 Canadian properties. Best is probably the Saskatchewan Uranium claims, which, can be super rich but no work since 2014 and no roads in that I can find. Other 2 Cdn properties smallish.

    2) In November the CEO (Alec) hires an INTERIM CEO (Dominic) as CEO and Alec moves to Chairman. New guy experienced in Aussie acquisitions etc.

    3) About Feb 2018 Pacton announces Sprott as an Advisor.

    4) Pacton then does a quick private placement for 4M and first Pilbara acquisitions in process or done.

    5) Eric himself and Sprott Inv both take part in a placement for 5.5M. Average price of both shares and warrants about .29 cdn and not far from Pacton price prior to Pilbara. More than fair to PAC but no sweetheart deal like Novo got.

    6) Acquisitions continue but small acreage and dollar values change hands. First deal with Arrow looks like the best bet.

    7) By June 2018 PAC's fully diluted share count goes from 127M to about 227M in a year.

    All together you can see the hard pivot to the Pilbara, very systematically, very quickly.

    But every junior miner executes these type of deals in their lifecycle at some point. The only reason I envision for a move to the Pilbara is easier financing and crappy Canadian holdings. Wouldn't be surprised to see them sold now. Sooner or later they have to drill something.

    Alot of hubbub for nothing if you ask me.
 
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Last
$1.24
Change
-0.010(0.80%)
Mkt cap ! $2.959B
Open High Low Value Volume
$1.25 $1.27 $1.23 $8.902M 7.137M

Buyers (Bids)

No. Vol. Price($)
7 62364 $1.23
 

Sellers (Offers)

Price($) Vol. No.
$1.24 1000 1
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Last trade - 16.10pm 17/09/2024 (20 minute delay) ?
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