Patagonia Gold Share Discussion Threads

[kirk 6] 19/7/2019 22:47

That's it now for aim look to hmx!

[steeplejack] 17/7/2019 06:41

Barclays won’t categorically confirm that they will transfer the holding to another broker until they get fuller information from Patagonia as to procedure.

“Should you choose to retain your holding we will provide further information once this is available.”

I find that a bit odd given the publication of the scheme document.What more are they waiting for.I have told them I wish to transfer and will contact them again when they update their corporate actions data online.Frankly,I think they have to facilitate a transfer.

[mortimer7] 16/7/2019 14:18

I think II trade on TSX V too.

[kirk 6] 14/7/2019 20:32

Transfer your holding to IG or CMC or even plus 500 all can trade TSX V and the main TSX market. I have bought a few more of these lately as I know the market makers are making the most of people forced to sell due to the change of exchange.

[hl83] 14/7/2019 19:48

I just had the corporate action document from Barclays, and it states that if I keep my holding it will be restricted and I will not be able to sell. Alternatively if I chose to keep my holding, they will provide further information in due course. But the deadline to sell is Wednesday.
Anyone who is with Barclays - do you know if they will transfer the holding to another broker who will let us trade them on TSX?

[kirk 6] 09/7/2019 10:41

So this is over half the price of the reverse take over!???

[kirk 6] 14/6/2019 16:15

Price has been decimated. Gold price flying aswell risen nearly 5% since takeover

[dexdringle] 10/6/2019 07:48

It's a pity there isn't a massive market for holes in the ground as we'd be sitting pretty if that were the case.

Maybe we could market them (the holes) as places to stick stuff ?

"We didn't find any gold but we created some useful storage holes...." type thing.

[hl83] 05/6/2019 15:56

Glad you're still on board, hopefully we won't regret it! It does look like there is enough road ahead to keep kicking the can along for now

[steeplejack] 04/6/2019 18:09

Having read your piece,I've decided to follow your example.I've bought the Patagonia back for a few quids profit and I'll sign up for AJ Bell and get the stock transferred.I would rather not recognise the loss just now,better swept under the carpet!

[hl83] 04/6/2019 15:30

Thanks for the tip Steeple, much appreciated.

Hopefully this helps to clear things up for those still in limbo.

[steeplejack] 04/6/2019 14:52

That’s good progress on Barclays part.It clearly looks like they’re out to help.

If you want to transfer to a broker,I’d suggest AJBell.Firstly,they deal in Canadian stocks and secondly,I know for a fact that Barclays and AJBell share some back office functions.You might want to pursue that line with Barclays.

[hl83] 04/6/2019 14:18

I received a written response from Barclays as follows:

I have had a look at this Scheme Of Arrangement and because Hunt Mining Corp will be listed on the Toronto Stock Exchange they will not be
eligible to be held in your Smart Investor account. Our proposition only allows for stock traded on the London Stock Exchange. This type of
foreign outcome takeover ( or reverse takeover ) is fairly common though and our Corporate Actions Team will put options in the terms of the
Scheme to allow for the stock to be either transferred to another broker with exposure to Canadian markets, or for the stock to be sold by us on
affected clients behalf. We usually do a bulk sale in these cases and credit clients accounts with the proceeds which we will convert from
Canadian dollars.

Implementation of the Scheme will be subject to approval of the Scheme Shareholders at a Court Meeting and a General Meeting. It is expected
that the Scheme will become Effective during July 2019. When all of this has been ratified we will post details on the Corporate Actions section
of our Website.

[hl83] 02/6/2019 18:06

And there was that time a couple of years ago when they raised funds for an underground mine at Cap-Oeste, and then said soon afterwards that the project wasn't viable and just spent all the money on salaries. That was a good one.

[steeplejack] 02/6/2019 09:38

Not exactly.....it simply confirms that I’m not alone in suffering a loss of approaching 100%!

Towards the end I dodged the perennial placings.Nonetheless,in this last missive to the gullible,the company has the audacity to take a pop at the AIM markets failings to fulfill their capital needs.I presume they mean that they would have liked higher subscription prices so that shareholder losses were even more traumatic.Patagonia management are a total shower.Some years ago (when the price was around 70p in old money) the company sought to re jig the striking price on their options because,they claimed,these options had been awarded when the stock price was inflated by bid rumours.In the litigious world of the USA,class actions abound but the AIM market bumbles on regardless.

[hl83] 01/6/2019 15:23

I needed £10.50 to break even. Hopefully that makes others feel less bad about their holdings.

[steeplejack] 01/6/2019 07:43

Yes I understand your logic and I've had similar thoughts of trying to avoid crystallising a large loss.However,this company has had far too much of my attention over the years ever since it was hived out of Brancote.It might be worth pursuing the idea of accepting the bid and getting your TSX stock in certified form presuming that's still a possibility (which I doubt).Good luck.

[hl83] 31/5/2019 22:52

Steeple, Vanjee, thanks for the info re barclays/isa. I will have to look into it further.

Steeple I appreciate your reasons for selling, if I could get anything worth having for my shares I would probably do the same. However with the loss I'm sitting on, selling even at the offered 35% premium would be pointless.
And on the plus side there should be efficiencies from the synergy with HMX's nearby operations, and one can safely assume that the new entity will have better management than PGD has had in the past.

Technical problems notwithstanding I will probably try and hold onto these, pending some more research into HMX.

GLA

[steeplejack] 31/5/2019 21:49

I hold Patagonia with Barclays and I can assure you that they won’t facilitate the acceptance of TSX listed stock.They simply aren’t set up to do it.Transfer your holding to another broker?You could I suppose but it takes time and effort.

I try to use local brokers in respective markets.Its cheaper and more efficient.I have a US domiciled broker to deal in the US for example.Yet,this doesn’t help when it comes to sorting the current conundrum of a U.K. listed stock being taken over by a foreign listed entity..Yet,it does focus the mind because the complications oblige you to decide whether you should hold onto the stock.Is Patty really going to nurture a flock of new devotees on the TSX.If Patagonia was such a cheap stock,then surely the anomalously low rating would have been identified by the cognoscenti long ago.Is a listing on the TSX going to change perception overnight.(Condor Gold thought as much but a recent listing on TSX has not yielded the desired results and in a global digital age,why would it).Sadly,for all its faults,I think the AIM market has correctly come to regard Patagonia Gold as a pretty unsound investment with a ruinously poor and unreliable track record.If a TSX listing can make a silk purse out of this sows ear,i’d be astounded.I have sold my stock today and taken my loss.I would like to think i’ll Learn from my errors but that’s about as likely as a Patty turning over a new leaf post a Canadian reincarnation.

[vanjee69] 31/5/2019 21:35

If you hold in an Isa then no.
spoke to my broker have to wait for the Corporate action to see what can be done.
Good luck to all.