Peninsular Gold Share Discussion Threads

[timgw] 03/7/2015 12:12

No more trading on AIM As they used to say at the end of those cartoons - Goodnight Folks! That's All!!

[russman] 13/6/2015 11:54

Robbing Peter to pay Paul.

[russman] 03/6/2015 21:30

An Annual Report dated 30/6/14.
Send out for more red ink.

[russman] 28/5/2015 23:45

They appear to be working on them.

[russman] 22/4/2015 16:57

Where are our figures?

[tees maar khan] 14/4/2015 17:32

Anyone know where aleoap has disappeared?

The very best stock-picker that I've seen on ADVFN bar none.

TMK

[russman] 31/12/2014 17:09

Maybe some life left in the old dog.

[timgw] 02/12/2014 13:58

Can't see any good coming out of it unfortunately. They do not hedge gold so the current low price has probably done a lot of damage. Have had this one in the "write off" section of my portfolio for some time.

(Later: Second RNS seems to imply it is all over bar the shouting! (IMHO/DYOR) )

[mysticmonkey] 02/12/2014 09:08

Anyone else in this? thoughts on suspension?

[russman] 14/10/2014 00:12

The Annual Results are to the 30/6/14.
No news may be good or bad.

[russman] 06/4/2014 20:18

It is amazing that no impairments have been booked.

[russman] 24/3/2014 23:28

The figures may be incisive.

[jamesiebabie] 10/3/2014 10:41

Update should be in a couple of weeks. Will be interesting to see what they say.

[thomcooper] 21/2/2014 12:13

Just arrived here. Dipped toe in. Tidy little co but what on earth is going on with that loan?

I get the impression that their cost of production is probably quite high & with gold price slumping since last financials & EM interest rates rising, they're probably short of operating cash, but surely they could have got better terms than a share option.

Not sure who's lending? Another reservation is that the board, whilst having some historic mining experience - don't seem to be thoroughbred mining guys. That being said, it doesn't mean that they don't know how to deliver.

Possible buyout if gold price goes north? Would like to see them cut down the leverage a bit. Anyone know how long the debt is fixed for? Their main asset seems to be the smelter but presumably they could sell off some of the satellite fields in the future if gold climbs...

[v1d] 23/1/2014 23:29

21trader - it'll be interesting to see what they do now that their cover has been blown. Looking at the trade volumes over the last few days they could have 1m - 1.25m hanging around - unless they have done some block deals with clients - always possible.

Maybe 5p or so for a short while, as you say - if anyone wants any more, that is!

Not helping the company any, if they are trying to persuade the holder of the Loan Notes to convert at 12p AND cough up another 3p a share for the privilege.

Oh, the joys of the AIM!

[21trader] 23/1/2014 19:31

VID

Yes they scored a touch because they could delay the trade for 3 days from showing. If they were not so greedy and closed down the buying they could have
offloaded more at 7.25p but today knowing the had to disclose the trade they showed more urgency in dropping the offer right behind any drop in the bid but
now it's too late but they maybe only have around 500k left to sell ?

[v1d] 23/1/2014 19:25

21trader - many thanks - that would explain why WNTS were operating in the dark pool of "PLUS". It worked to an extent, because I and others bought some, although at less than 7p overall.

The big question is - why is the seller distressed? Redemptions demanded from an illiquid fund, or do they not buy into the story of improving gold prices this year and feel that PGL is doomed?

I'm definitely letting my shareholding run and maybe add some more.

[21trader] 23/1/2014 19:08

VID

Winterfloods are always the mm that buy blocks off a distress seller and they never lose money infact they make great profits because they get time before they
disclose it and can sell quite a bit of it at over 50% profit and even when the
trade shows they know they can drop the price and sell the rest for a profit even
if they offer 5p for the last bit of it, they shifted a fair bit of that stock
in last 2 days for 7p+

[russman] 23/1/2014 19:01

Depends who sold, depends who bought.

[v1d] 23/1/2014 18:50

21trader - do you know if the WNTS trade is a block of shares which they have bought themselves, or a block traded from one holder to another across the market? It would be unusual in the extreme for a market maker to go "long" - they play the book to the "short" side as far as I know.

Even at present gold prices the company appears to be EBITDA positive - there's something like £4M of Depreciation and Amortisation written off p.a. in the accounts. However, cash is a problem unless the PoG improves. (which it seems to be doing right now).

Am I right in my reading of the Loan Note Terms? Conversion to shares at 12p plus an additional 3p at the Noteholder's option, otherwise the Loan Notes are redeemable in 12 months from issue - in which case the company has to pay back the principal (£1.2M or the unconverted portion) plus £300k or 3p per share equivalent?

As you say, WNTS are hardly encouraging the punters to pay even 6.5p! All very odd.

[21trader] 23/1/2014 17:25

1,934,500 at 4.5p

I think Winterfloods own greed yesterday cost them money when they refused to
let people buy the stock. Now the cat is out of the bag and they have this cheap
stock who is going to pay 6.5p when they paid 4.5p for it.

[stockologist] 23/1/2014 15:25

Are the loan note holders hedging by selling shares into an illiquid market?

The real fall started to happen from the signing of that deal in December

It is odd that a 'profitable' gold miner has to resort to such financing mechanisms.

[21trader] 23/1/2014 15:07

No problem buying today seller still around.

[21trader] 22/1/2014 16:08

Yes very odd. 5k max online 4 buys at a premium but Wins still sit at 7.25p
offer with next offer on L2 at 9p

[v1d] 22/1/2014 15:37

21trader - It seems a bit odd that, as you say, they will sell at a premium to the offer price, but don't raise the offer.

I had assumed that someone (Baker Steel??) was just dumping their holding and that there was a significant overhang to clear, but is that what is going on here?

ALEOAP - long time since our musings on the CNR BB!! Have you any theories?