B-tech
24 Nov 2015
Re: Scrapping the Blue Dollar Thanks John. Good point..
JohnSalvage
24 Nov 2015
Scrapping the Blue Dollar Macri has promised to scrap the Blue Dollar,the blue dollar being the main reason why costs have exceeded $1200 poz. PGD have survived a difficult period thanks to Carlos and Co. Based on today's exchange rates below - Income from the sale of gold entering Argentina = 1.00 USD = 9.64370 ARS All overheads - Wages, Equipment,and running expenses are paid at the Blue dollar rate of $15,10 From today's report - "In addition to lower than forecast production for the year, the cash costs were impacted by a higher than anticipated inflation and a lower than forecast actual exchange rate.The outlook for November and December 2015 and Q1 2016 is positive and the Company expects the Lomada Mine to achieve forecast production of 5000 ounces in November and December and 9000 ounces for Q1 2016. Stripping ratios in the main pit have decreased to approximately 2.5:1 and machine availability is improving along with additional hire equipment being mobilised. A pit extension is due to commence in April 2016 in order to extend mine life as exploration efforts continue near mine and on the Lomada block with the objective of replenishing existing resources" Scrapping the Blue Dollar will give PGD so much more spending power and take us back to production costs $700pozAll IMODYOR
Antiques Of Woodstock
24 Nov 2015
Re: Missed production targets coupled wi... Good morning AllNothing other than facts in this post.Current POG $1,073/oz less our 2015 average cash cost $1,291/oz = A profitable company with surplus funds to spend in Uruguay?OR PGD losing $218oz from production if things continue as they are?We must not forget what the company has also told us in this RNS: ' Q4 of 2015 and Q1 of 2016 forecast significant cost savings and normalising of Au production levels'Normalising of production levels - What does that mean?AH YES - now I understand 'normalising' means 'the Company expects the Lomada Mine to achieve forecast production of 5000 ounces in November and December and 9000 ounces for Q1 2016'Forgive me for being thick - but unless we reduce our cash costs from where they now sit at $1,291/oz to well below what was our previously anticipated cash cost of US$1,180 we will be losing money for each ounce we produce. So - Ii do we manage to reduce our cash costs to the previously anticipated figure of $1,180 with the current POG sitting at $1,073 we will still be losing $107/oz.Economies of scale - the greater the amount we produce the more we lose. Is this the correct time to be ramping up production? Is this the correct time to be looking to expand activities into Uruguay?Draw your own conclusions.Good luck All
Antiques Of Woodstock
24 Nov 2015
Re: Missed production targets coupled with..... ...creeping extraction costs......honestly!---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Good morning I am your Huckleberry/AllSo let's look at this in context.Lomada was expected to produce 31,000 oz this year and that forecast has now been slashed by over 30% to 21,542. Our cash costs per ounce have increased mainly due to lower than expected production and lower than expected exchange rate - plus we have had poor machine availability impacting our mining performance. Clearly our management are demonstrating great skill by being in tight control of our finances - production and mining operation logistics!But look on the bright side - we are looking to spend a 'shed load' of money that we don't have by expanding into Uruguay to chase another opportunity having made such a success out of our Patagonian gold plays.Your really couldn't make it up.Good luck all...
I am your Huckleberry
24 Nov 2015
Missed production targets coupled with... ...creeping extraction costs......honestly!
robers98
22 Nov 2015
Opposition 'wins Argentina presidency' Centre-right opposition candidate Mauricio Macri has won the presidential election run-off in Argentina, exit polls suggest.Polls by taken by TV stations shortly after voting closed indicated Mr Macri, 56, won, without giving a breakdown.Mr Macri, the mayor of Buenos Aires, was up against Daniel Scioli, the governor of Buenos Aires province.Loud cheers erupted at Mr Macri's campaign headquarters at the news, Reuters reported.[link]
optomus
13 Nov 2015
Re: AoW I am very happy that people like AOW contribute to the bulletin Boards.Those that criticise must look to themselves.AOW didn't make anyone buy their shares.If you have lost money, YOU have lost it, not anybody else.So take responsibility and stop blaming others for your losses.It is interesting how people who make money from free advice don't often thank the person who helped them, but when they lose they complain.I have lost money like many, but more fool me.My choice, my loss.But thank you all who give valuable insights into our shares.I look forward to thanking a few people when the tables turn.
biggles21
12 Nov 2015
Re: AoW AoW has corroborated his comments re the danger of a concert party buy out. My opinion is that I understand thati t would require a 70% vote, and they hold c.35% and I know that there are sufficient long term holders who would render this unlikely. Many city investors hold the stock personally, and held the shares, like me, for resources and the take over. I do not think that they , or I will be fobbed off with 4p or even 20p. We carefully select a few speculative investments which for a small initial investment could turn into a game changer...say add a ski chalet or aeroplane to the toys ! For this reason natural resources are the way to go. As regards comments made at a share price of 40p or 70p, anyone who calls the top of a share is a liar if he calls it skill or foresight. They do not discover less gold, so the safe way is to await the take-over, to realise best value, or potential that due diligence would uncover. The share price can move 10% on 100000 shares being sold. AoW , myself and many have substantial holding, and could short the shares and then dump them on the market and realise something.. This board has some experience of those who short shares and then use boards to rubbish the shares...which is the moral equivalent of getting ones pals to view and bad mouth a house that you want to buy .The Uraguay agreement is bizarre indeed, and my view is that the danger is a massive dilution which would give the concert party their 70% or just render the long termers meaningless in objecting to their plans. This is the only reason I surmise behind this bizarre announcement of funding expansion in Uraguay. Where are the funds coming from to fund this otherwise ? We are at the mercy of the ethics of the BoD/concert party. Wishful thinking and ethics prompt the hope that a massive resource uplift will be announced and that area sold off, proceeds dispursed to shareholders, with the option of investing on the reshaped company which will diversify to Uraguay. Hmmm , hope springs that ethics win over.
Antiques Of Woodstock
11 Nov 2015
Re: AoW 'And where is the research with what you posted regarding the 'fire sale' of PGD Argentinian assets, for 4p Max. and a move to Uruguay exploration, it's all conjecture on your part.Just think of the drivel you posted when the price was 40p rising to 70p and what your posting now - Have you ever been on the money, or is it all horseshit sunshine ?'---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- --------Good afternoon ChutesI have given my opinion which I have not dressed up as being anything other than that: For the avoidance of doubt - here again is the exact wording as written in my post which perhaps you missed:'All a guess but if my ‘musings’ are anywhere close to what is unfolding – what a clever way of executing exactly what the Concert Party set out to do.This is pure guesswork – but one thing for sure – we do not have surplus cash to bring existing gold plays to production or to chase new opportunities elsewhere so what other possible explanation could there be?'The whole point of these forums is to give investors a 'voice' and to share information/research and to discuss all possibilities with the companies in which we have an interest.The facts remain that the share price has fallen from 75 pence to where it sits now at 1.5 pence which is disaster - plus if you look at the reaction to the recent Uruguay announcement you will notice that there are no volume purchases on the back this news which indicates how the news has been taken. Beyond anything else - How can PGD enter into a new financial commitment in Uruguay if there are not the funds available to develop and bring to production our existing gold plays? That's the big question - I then went on to highlighted a number of possible ways that the funds could be raised.As to whether I am correct or not with my 'guess' - time will tell and we all await the unveiling of the plan as to how we are going to achieve the funding that is required - not just for the initial US$ 500,00 to US$ 1.5 million but also should we decide to run with Phase II which will cost us a further US$ 2.0 million.As to whether I have historically called it correctly or not with PGD - let me assure you that I have got this wrong 'BIG TIME' as have many other Private Investors who believed what we were being told by our Management and invested accordingly on the back of the information that we were given. That's where I and others made our error - we believed what we were being told.That aside - I presume that we are all here to try and achieve a return from our investment in this company - so let's be respectful of each other's position because at the end of the day - all us Private Investors are in the 'same boat'.Good luck...
chutes
11 Nov 2015
Re: AoW AoW,And where is the research with what you posted regarding the 'fire sale' of PGD Argentinian assets, for 4p Max. and a move to Uruguay exploration, it's all conjecture on your part.Just think of the drivel you posted when the price was 40p rising to 70p and what your posting now - Have you ever been on the money, or is it all horseshit sunshine ?Chutes.
Antiques Of Woodstock
11 Nov 2015
Re: AoW Absolute horseshit BTW. ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ------Good morning ChutesSuch an articulate - constructive and well researched response - LOL.Good luck...
chutes
11 Nov 2015
AoW Absolute horseshit BTW.
Antiques Of Woodstock
10 Nov 2015
Re: Uruguay Good morning AllAOW about to leave for France so a post before I depart.The more I think about this recent announcement the more I distrust what little we know.For many years we have been told that PGD is sitting on a valuable asset base of multiple gold plays in Patagonia with Lomada having much more gold than is reflected in the resource figure which was deliberately kept low to avoid triggering a penalty payment.With the Barrick agreement renegotiation now far behind us and the Argentinian election well underway – one thing for a dead cert is that Kirchner will be replaced and it is likely that whomever replaces her will be looking to attract inward investment which bodes well for the likes of PGD.Whilst historically we were prevented from bringing Huemules into production because of the mining moratorium – those restrictions may well be lifted with a rekindled appetite for encouraging companies to engage in profitable long-term activity on which taxation revenue for Argentina can be generated. Makes perfect sense - and with Argentina in a default position with regard to the debts that it owes which has done nothing positive to enhance it’s International financial credibility – this has to be the right way forward.Therefore PGD is likely to be moving to a position whereby opportunities will present themselves which previously were impossible to exploit due to political restrictions.This latest announcement is all about moving company focus elsewhere and chasing new opportunities in Uruguay – not exploiting existing opportunities on which we have spent huge amounts of our money and time lining up in Patagonia.I have a horrible feeling that our asset base is about to be ‘cherry picked’ by another company in which the `Concert Party investors’ are involved with us ending up with a lump sum which nowhere near reflects the value of what we are giving away – with the logic being that we have run out of cash and that if we do not take the ‘King’s shilling’ that we will not be able to continue as we are effectively moving towards insolvency.Yet we have a ‘get out’ and along comes a ‘Saviour’ to bail us out who will give us some cash enabling us to run with a fantastic new opportunity elsewhere and who will use their own funds and the new political climate in Argentina to exploit and bring to production PGD’s previously undeveloped plays and if we are lucky we might even get a small cut of those play’s future production.All a guess but if my ‘musings’ are anywhere close to what is unfolding – what a clever way of executing exactly what the Concert Party set out to do.This is pure guesswork – but one thing for sure – we do not have surplus cash to bring existing gold plays to production or to chase new opportunities elsewhere so what other possible explanation could there be?Perhaps I am being uncharitable and we have found a ‘shed load’ more gold in Lomada which will give us a huge resource uplift figure which in turn means that we will have loads more net cash-flow looking for a home over the medium to long term. Having said that – if this were the case we should have been told of this development well before we were advised as to how we will be spending the proceeds.Hmmmm.Good luck all…
Antiques Of Woodstock
09 Nov 2015
Re: Uruguay Good evening AllMakes no sense that PGD already has a load of gold but no money to bring it to production – yet the company is looking to diversify and spend money which we do not have on new projects in Uruguay.Clearly the funds have to come from somewhere – so either the company will be further diluted by the issuance of yet more shares to raise the funds which would be financially crippling to existing shareholders at the current share price – or perhaps we will be selling off part of our existing portfolio or entering into some type of JV with a lump sum up front – possibly retaining some future share of production.Could another company in which the Concert Party investors are involved be looking to buy out some of PGD’s undeveloped gold plays – for some cash upfront to enable us to venture into Uruguay?Only a wild guess – but we have only heard a small part of the unfolding story.As things stand – we are looking to diversify yet we don’t have the money to do so – therefore impossible to reach any informed opinion on this until we are told the master plan.Good luck all…
chutes
09 Nov 2015
Re: Uruguay Kind of blows AoW theory out the water, no one seen this coming.
