Patagonia Gold Share Discussion Threads

[johnsalv] 20/5/2016 12:05

Patagonia Gold tops up recent funding Share
09:01 20 May 2016
The Argentinian gold miner is the process of switching production from its Lomada mine to a new operation at Cap-Oeste.

Cap-Oeste is expected to start production in the third quarter of 2016
Patagonia Gold plc (LON:PGD) has raised an additional £510,000 to top up the £6.9mln placing completed last month.

The Argentinian gold miner is the process of switching production from its Lomada mine to a new operation at Cap-Oeste.

Chairman Carlos Miguens and parties related to him underwrote the placing and also participated in this latest funding round, which was priced at 1.5p.

His stake is now 38.4%, which rises to 45.7% including the concert party and to 46.9% including options and warrants.

Cap-Oeste is expected to start production in the third quarter of 2016 at an annual rate of 82,000 oz of gold equivalent with a 24 month expected mine life, though Patagonia expects to extend this with nearby deposits.

Operating costs are forecast to be within the range of US$800 to US$850 per oz including working capital.

[robers98] 20/5/2016 11:16

Morning Johnsalv, the AGM presentation had a slide on Sarita & it was commented as being close to that mine area. So hope they have got something else planned. At least the trucks we are bringing in are quality 2nd hand from Aus.

The video on Hunt Mining seems to also indicate they are looking for material to HL as well.

[johnsalv] 20/5/2016 10:36

Good Morning Robers98
Hunt Mining spend $2.7 million in return for Mining equipment and processing plant and trucks.
Original cost + $50 million IMO.
Surely Carlos will be looking for a similar bargain closer to Cap Oeste.

[lochlea] 20/5/2016 09:35

RNS

Fantastic news.
Just what the long suffering private investor wants to hear after 15 years and a £150 million cash burn and over 1.5 billion shares created into circulation.

[robers98] 19/5/2016 21:56

HUNT MINING CLOSES PURCHASE OF MARTHA MINE, SANTA CRUZ PROVINCE, ARGENTINA

Hunt Mining Corp. (the “Corporation” or “Hunt”) (TSX VENTURE: “HMX”) is pleased to announce the closing on the purchase of the Martha Mine, located in the Santa Cruz Province, Argentina and 50 kilometres northeast of the town of Gobernador Gregores, Argentina. The Martha Mine has year round access, contains a flotation mill, equipment and buildings and commenced silver production in 2008. Additional information including photos of the Martha Mine are available on the Corporation’s website at: www.huntmining.com. The Corporation’s acquisition of the Martha Mine will further the transition from an exploration entity to a mining entity. Hunt has one of the largest land packages in Santa Cruz and plans to use its acquired flotation mill and infrastructure for mineral exploitation.

Hunt has been an active exploration and development entity in the Santa Cruz Province, Argentina since 2006. Since 2006, the Corporation has invested a total of CDN $40,000,000 in its Santa Cruz properties which includes the flagship La Josefina Gold / Silver Project (“La Josefina”) and La Valenciana Gold / Silver Project (“La Valenciana”). Both La Josefina and La Valenciana are located within 120 kilometres of the Martha Mine

[robers98] 18/5/2016 13:17

Next HL pad to be ready soon, once up & running & gold price holds above current levels. The company should have enough money to not need any further placing. A decision on COSE might involve selling on rather than raising money to mine.

[steeplejack] 18/5/2016 12:09

The U.K. Government with privatisations has long benefitted from over subscribed issues and taken up to two weeks to return excess cash to the punters.This is not unusual.As suggested,there's always the option of T20,presuming your broker facilitates such trades.Anyway,you can always keep your powder dry for the next Patagonia placing.They are invariably done at pricing discounts to those made earlier :)

[jpuff] 16/5/2016 21:45

Problem is they don't let you trade like that in the ISA where I held the stock Charles, nice idea otherwise. It has to be cash up front then a trade up to the value of funds deposited. Ah well my bad luck again I guess! As a long term holder I guess you hardly ever win over the short term punters these days!

[glennrcharles] 16/5/2016 13:14

Surely its a T20 with money you haven't got and then if the cash hasn't come in close out 2 working days before the end and make up the difference?

[jpuff] 16/5/2016 13:00

That I agree with Robers but if the company/broker are still sitting on the cash over a week later - as in my case - unless you have spare cash available on the RNS buying those extra shares in the market was not possible at the time. I feel the cash should be instantly returned. Now I can only buy half the shares that I could have if I hadn't applied for any excess in the first place!!

[robers98] 16/5/2016 11:52

Jpuff, It would have been to buy out of the market once the RNS confirmed stepback if you wanted those extra. It confirmed the %, so you would have been able to calculate. Then when the money comes back into your account either you've covered the T or draw the money out.

Maybe that's what some have done which has seen the price rise.

[jpuff] 16/5/2016 11:00

I applied for additional shares like many folk here and was scaled back to 48.8%. The problem I've now had with TD Direct (my broker) is in getting my cash back that was not used to buy additional/excess shares in the offer as they claim the money was sent to PGD and it will take several more days to be returned to my account! As a result, I've seen the price almost double whilst my cash has been apparently tied up or confiscated by TD Direct (broker) and/or PGD. So I've missed an opportunity to buy the shares at a lower price in the mean time. I feel very aggrieved by this and am still awaiting my cash back even now! Any advise or similar experiences out there? Or have I been hoodwinked? What can I do? TIA

[robers98] 14/5/2016 23:32

Former Argentine president faces 20 years behind bars as she is indicted for 'defrauding her country out of $5B.

[investment dave] 13/5/2016 07:56

Big buy gone through already

[investment dave] 12/5/2016 18:40

No chance placing hugely over subscribed

[luni2] 12/5/2016 18:29

Only after the share consolidation, has to happen now!

[investment dave] 12/5/2016 17:39

Back to 80p

[hazl] 12/5/2016 14:26

gold recovering some of its losses on the data so far

[robers98] 12/5/2016 13:36

No problem Justino, also Sarita high grade of interest, with the new CEO in place being formally Andean resources. Do you find yourself asking the question what style of mineralisation are we hunting? Some to go on the existing HL pads & a juicy high grade multi vein field perhaps? With the new pad up & running very soon as well. IMO

[justino] 12/5/2016 13:25

Well remembered Robers ;-)

[robers98] 12/5/2016 13:22

Johnsalv, just beat me to posting the presentation. The Los Toldos drill hole is of interest as was mentioned at the AGM it is an historic drill number. 104m @ 0.42g/t which had core loss & is of poor quality, so potential for improvement in those figures.

Also Bandurria in the La Paloma block sounded of interest, when we have got access arrangements in place.

Fleet to become all Cat as on slide 6 with 2nd hand (but not many miles on the clock) equipment coming in from Australia at a good discount to new. Trucks are larger than existing fleet.

[robers98] 12/5/2016 13:06

People buying up their reduced subscription shares? Or something else.i.e as Justino mentions overhang cleared?

[goldenshare888] 12/5/2016 12:50

NICE!!

:)))

[justino] 12/5/2016 12:38

Back in March i mentioned that we needed 3 things to happen for PGD to satisfy investors:

1. Cap Oeste to start producing 17,000oz 4th quarter this year, on schedule, which will be a good indication of whether we will meet the 67,000 oz total for 2017. ACCORDING TO AGM THIS IS ON TARGET

2. Any large sellers and/or sale overhangs to clear. LOOKS POSITIVE AS YOU CAN SELL IN LARGE SIZE ONLINE BUT ONLY BUY 50k MAX CURRENTLY.

3. Gold price to remain circa $1200+. TODAY $1268

This is the most bullish i have felt about PGD for a long time. Carlos has backed it and in his words 'Put his money where his mouth is'. The company is now much leaner and more efficient, Argentina is gradually becoming a better place to be a miner and our exploration targets look promising.

Also cash costs were mentioned at the AGM of circa $800/oz at Cap Oeste. At $1250 for 82,000 oz thats $37m profit by end of 2017.