Patagonia Gold Live Discussion

Investor KT 23 Apr 2016

MANY THANKS TO ANTIQUES OF WOODSTOCK AoW, just to say I really appreciated your comments of this bulletin board. I found them to be well reasoned, analysed and enlightening and appreciated reading them for views on what may be happening. Your comments on the last fund raising and decision about not taking up the rights I found interesting.I sold out on Friday as it just seemed IMO to be "investing" even more money for the company to spend on exploration, development rather than become a major, profitable gold producer.Good luck to all who are still invested.AoW, many thanks once again.

ajinbali777 15 Apr 2016

Q3 target: latest RNS re:RNS...If they are confident about the COSE site producing gold in Q3 then such confidence should show some reflection in sp. Although it is only a 2 year production plan with possible extension to 6 years, I seem to remember some time ago that the plan was to strip out the gold and then re-drill at the point there is a sharp down turn in the rich 'gold seam'. Was I dreaming, is it possible or will the underground mines take care of that area??GLA

vekta 07 Apr 2016

Q1 Lomada target? They said the Q1 target for Lomada was 9,000 oz - I wonder if they reached it?Vekta

Antiques Of Woodstock 12 Mar 2016

Re: Pathetic - Strider P I previously said that I'd be happy to participate in any joint action. My position on this still stands.Do you think it would be viable to undertake an action in respect the above? I know at least one other party who would take a similar position, were there any mileage in doing so.Please let me know your position on this.---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ----Good afternoon Strider PApologies for my delay in responding.Over the years I have been involved in a number of cases where I have individually and also as part of a group taken legal action against companies as well as local government when it was felt that the aforementioned had not acted as they should ignoring their obligations under a duty of care to those to whom they are ultimately accountable.One such case ended in an eventual High Court ruling in our favour but which the defendant chose to ignore - thus us currently exploring the mechanism by which the High Court ruling can be enforced. Certainly not a simple situation in this particular instance with our MP fully supportive and 'on the case'. That aside - as an investor in PGD I would hate for the actions of a small group of like minded disgruntled shareholders to 'poke the hornet's nest' at this time when the company's future is 'in the balance'.Far better IMO - to wait and see what unfolds whereupon one can make informed decisions based on fact as there is still a small possibility - remote though it may be - that our management have something 'up their sleeve' which will reverse the company's far from favourable current position with regard to existing shareholders outside of the 'chosen few'.Therefore I respectfully suggest that any 'gunpowder is kept dry' until events dictate that there is no alternative.Good luck...

Antiques Of Woodstock 11 Mar 2016

Re: Pathetic Good morning AllSpot Price of Gold as I write $1,263 oz with the PGD share price dropping to 1.9 pence.The reason for the PGD share price falling when the POG is on an upward trend is because we are no longer considered by the markets to be a gold producer as we have run out of new material at Lomada and we can't produce gold from Cap-Oeste or any other gold play without a shed-load of cash which we do not have.That's the sad reality of our position.What options do we have left that will not severely disadvantage us long suffering shareholders?This situation has not arisen overnight - this has been fully engineered by our management who are fully responsible for the way that they have run the company and the decisions that they have taken to place us in our current position.BH achieved what was required of him before stepping aside leaving the company in a state where it was backed into a corner with nowhere to go other than IMO to ultimately look to the Concert Party for a 'get out of jail' solution.A well orchestrated plan at the expense of those of us who invested in this company's future on the back of what we were told and led to believe by our management - with what actually happened bearing little resemblance to the information on which we based our decisions to invest which proved to be 'unsound' at best.One thing about which I am relatively certain is that those who financially supported this company over the long term will not reap their deserved rewards - giving up their share to those who have engineered this situation to their advantage.Exactly how this will unfold and whether we get the funding that we require is another matter. If we do it will be interesting to see who coughs up the money and at what cost - if we don't it will be equally interesting to see who ultimately ends up owning our gold plays when the company ceases to trade.I am being nothing other than realistic - I certainly have no 'axe to grind' with anyone other than our management - past and present.Our future at best is ‘uncertain’ - at the worst it is not even worth contemplating.Good luck all…

strider p 10 Mar 2016

Re: Pathetic Hi AOW My sentiments entirely. One cannot help but feel aggrieved, not at the fact this share price has performed so miserably (although this does come to bear) but at the outlandish spin previously offered by our Board of Directors. I have not a calculation on the net profit yielded from gold extracted but the profits gained and seemingly lost to salaries and upkeep of the Company and its employees, seems flagrantly disproportionate. The term "over a barrel" comes to mind.I previously said that I'd be happy to participate in any joint action. My position on this still stands.Do you think it would be viable to undertake an action in respect the above? I know at least one other party who would take a similar position, were there any mileage in doing so.Please let me know your position on this. In the meantime, good luck.

Antiques Of Woodstock 09 Mar 2016

Re: Pathetic PGD has now not moved up at all with the near 20% gain in the gold price.looks like one to write off to the bottom draw for 5 years---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- -----Good evening shugg1eSadly I have to agree with you and unlike what we were told by our management and some others on this BB - I never believed that the decimation of our market cap was purely down to a low POG. I have been vocal about the fact that we have been manoeuvred as a company into a position whereby our exploitable assets have been 'bled dry' paying wages and chasing rainbows. The truth behind where we sit today lies in the fact that we have run out of new material at Lomada - the money raised during the last share placement was woefully short of what was required for Uruguay and Cap-Oeste with no doubt much of that money already being swallowed up paying wages – leaving us in a position where we are valued at £22.68 million requiring $13 million of funding to continue to pay wages and bring Cap-Oeste on line plus a further US$ 500,00 to US$ 1.5 million for Phase I in Uruguay and a further US$ 2.0 million for Phase II.This has resulted in the company now being in a position whereby our future is reliant on raising a further amount equivalent to just over 50% of our entire company’s value at today’s price.That's fact - So – where do we go from here?The market can see through the BS that they have been fed thus the value that they are placing on us – and behind the scenes we must not forget that the Concert Party can at any time buy just one more share to be placed in a position whereby they have to make a Bid for the company – as that’s within the rules of trading in AIM under which we are bound.Unpalatable for all of us who invested in PGD’s future basing our decision to invest on what we were told by our management – remember not so long back how we were told that we had one of the lowest production costs amongst gold producers – thus giving us a healthy net profit to enable us to be self funding moving forward – then it turns out that our so called low production costs were far higher because of problems surrounding currency issues and our so called self funded future does not exist thus us requiring a further $16.5 million - you really couldn’t make it up.Good luck…

shugg1e 09 Mar 2016

Pathetic PGD has now not moved up at all with the near 20% gain in the gold price.looks like one to write off to the bottom draw for 5 years

ajinbali777 05 Mar 2016

Re: RNS and cap oeste Cut off by violent tropical storm so I thought I would hit the keys and red wine in no particular order. Indeed it looks like the plan is to run down Lamada whilst at the same time ram up Cap oeste so with a slight dip our production goes from approx 30,000 ozs pa to nearly 70,000ozs. Nice idea but as everybody understands were is the money to drive this coming from? What happened to cash from the Capital Raising November 2014??? Were has the gold money gone? As AoW has presumed....gone into salaries etc. If Cap Oeste does find the funding and actually hits the target production, what will happen to the gold cash....employ more management, pay more? It all seems a bit woolly to me!Furthermore other gold positive sites seem to have lost their gloss... what has happened to the Huemules, Leleque & Naheul Pan prospects...has the govenor there become mine friendly? What of Monte Leon and surrounding area which were regularly featured in reports? To be sold off after such a lot of prospecting!?I am trying to stay positive with the help of a fine Aussie wine as I have a lot invested with this company, but sometimes the lack of information is very disheartening.BTW good article find JS, I've e mailed the guy to get the full issue,OK off my chest for now and back to the boozeGLA

JohnSalvage 03 Mar 2016

.proactiveinvestors.co.uk [link] Gold (LONGD) holds extensive ground on the Deseado Massif in Argentina, an area that stretches several hundred kilometres inland from the Atlantic coast and that has already played host to several large gold mines.Historically, Patagonia Gold has focussed primarily on exploration ground across three licenses, El Tranquilo, La Paloma and La Manchuria.More recently the company started small scale gold production at its Lomada project on the La Paloma property, with annual production running at around the 20,000 ounce mark.The thinking behind this model conforms to an age-old prejudice that survives in London’s mining investment circles: that large scale exploration upside should be supported by cash flow from a smaller producing operation.New mine for oldBut it’s small and the resource is running out so in February Patagonia took a major step by announcing that it was closing to be replaced by another prospect in Argentina, Cap-Oeste.Lomada has sufficient ore stockpiled to keep producing gold until the end of 2017 by which time Cap-Oeste should be up and running fully at 67,000 oz per year.Cap-Oeste, on the El Tranquilo property, is still referred to as Patagonia’s “flagship project.” On its own it holds 1.3 mln ounces of gold equivalent in the indicated category, with a further 385,000 ounces inferred.Just down the road another deposit, COSE, adds 83,000 further gold equivalent ounces in the indicated category, with a further 16,000 ounces inferred.Cap-Oeste has been a stop-start project thus far and was deemed at one point to have too short a mine life to warrant further development.But it’s a good-looking orebody and now Patagonia is coming round for a second swing.The Cap-Oeste pit design contains a total measured and indicated resource of 1.56Mt at 2.21 g/t gold and 80 g/t silver for a gold equivalent grade of 3.29 g/t.The current plans envisage a 24 month mine life, with the option to increase this to six years with the development of the two underground projects.Talks are now underway over the financing of the initial phase of the project, which will cost US$13mln upfront.That includes the pad construction, fleet expansion, plant construction though a further US$4.5mln for working capital will also be needed.Discussions are ongoing over raising the finance.Meanwhile, exploration will continue at Lomada along the nearby Paloma blocks and breccia Sofia target and the along strike extension of the Lomada de Leiva structure.If a commercial resource is discovered, the mine will re-open, Patagonia said.Further afieldExploration will also continue on other prospects in Patagonia and newly acquired ground in Uruguay.In November 2015, Patagonia announced that it had entered into an option to acquire the Carreta Quemada and Chamizo gold projects in Uruguay from Canadian-based Trilogy Mining.Under the terms of the deal, Patagonia will earn an initial 51% in the projects by spending US$1.5 mln over the course of the next 18 months.It can then go to 80% by funding a further US$2 mln of expenditure, at which point if the projects are showing at least 400,000 ounces of JORC equivalent gold, Trilogy can exercise a put option that requires Patagonia to acquire the remaining 20% of the project at a price of US$10 per ounce of gold discovered, to be satisfied either in cash or in new shares in Patagonia.Alternatively at that point, Trilogy will be able to elect to stay in and fund its 20% portion of the expenditures going forward.The upside on these projects would appear to be considerable, with Patagonia talking of a 35 kilometre strike length at Carreta Quemada although no detailed drilling has yet been done.At Chamizo, meanwhile, historical drilling done in the 1990s by American Resource Corporation at sh

Antiques Of Woodstock 26 Feb 2016

Re: RNS and cap oeste Good afternoon AllSo if I am reading things correctly – we have run out of material at Lomada with all of the gold now mined and new material not forthcoming as previously anticipated by our Management – all the production revenue is spent with the existing heap continuing to leach out gold until it ‘runs dry’ in 18 months time – the law of diminishing returns – more today - less tomorrow – nothing in 18 months..This means that we have used most/all the funds generated from Lomada to pay salaries and run the company.So we now have no future income to continue to pay wages and run the company – and we need raise yet another $13 million to enable us to commence production at Cap Oeste ramping up to 67,000 oz AuEq in 2017. I don’t forget what was stated in the 'Capital Raising RNS’ of 18th November 2014: The money raised would "allow Patagonia Gold to accelerate the development of the Cap-Oeste heap leach project which on completion will expand our annual production to approximately 83,000 ounces of gold equivalent (gold + silver).” Just two small points:1. There is a big difference between 83,000 oz AgEq and 67,000 oz AgEq.2. A PLC should to provide a return for shareholders not just be about finding new ways to pay salaries.Then again maybe I am a lone voice in the wilderness – maybe not.Good luck all…

Antiques Of Woodstock 26 Feb 2016

Re: RNS and cap oeste My thought exactly. More dilution?---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ------Good morning The White RiderDifferent ways of achieving the same end objective - for example rather than direct dilution - along could come a 'third party' who will farm in for an agreed percentage.Should this happen - all eyes will be on exactly WHO is behind the third party.Only 'window dressing' as same outcome - Dilution of the asset base verses dilution of the issued shares.AOW been around for too long - either overly cynical or realistic. I fear the latter although I hope the former.Either way - only a guess as awaiting details to unfold.Good luck...

The White Rider 26 Feb 2016

Re: RNS and cap oeste My thought exactly. More dilution?

Antiques Of Woodstock 26 Feb 2016

Re: RNS and cap oeste Good morning AllFunding required for Uruguay and now the following:'The total cost of the project is estimated to be $13.0 million which includes the pad construction, fleet expansion, plant construction and $4.5 million of working capital during the construction and ramp up phase. Discussions are ongoing with regards to the financing for the construction of the mine and further announcements will be made as appropriate.'Existing Market Cap £25.2 million or $35.3 million.Hmmm.Good luck all...

ajinbali777 26 Feb 2016

RNS and cap oeste Didn't see that one coming!!! I guest the pog and changes within Argentina have changed the economic model! I hope this is the start of a continued expansion and cash flow. Perhaps a rabbit is appearing out of the hat!!GLA