Providence Resources Forum

maybe the journalist who wrote article knows it was really a funding at 40p and is now buying some shares.

Still waiting for News. Can´t believe the Big Institutions will allow TOR hand over shares for Buttons. Still think a convertible loan would be best option if Barryroe farm Out Closure is delayed

Hard to believe that this was a share that some brokers were giving a £20 price target, one wonders what qualifications you need to be a broker, just a hard neck methinks.

Re Funding, Morning Spuddy, I really love your optimism and would be happy for a placement at 150 pence, really can't see it happening though. Love to be wrong.

Morning Fencer Providence nowhere near Bankruptcy in my Opinion. Fundind conundrum to be dealt with thats true.

Believe the following
Funding Here are what I think will be the Funding Options in order of most to least likely 1: Barryroe FO with up front Cash Payment 2: Convertible Loan eg 40m one year either paid back at end of year or converted to shares at that time. 3: Placing between a few large investors at price higher than present unrepresentative low Share Price eg 150 pence 30 million shares 4: Rights issue Do not see the major shareholders agreeing to a rights issue at 25pence. This would be shooting themselves in the foot and automatically valuing all their shares at 25p. It is obvious that just because a small percentage of shares are traded at 25 pence it does not mean all shares are worth 25 pence. I could pay 20 euros for a share on Monday Morning. Would that be the true value if the share !!!!!For a placing to be seen as fair, intelligent, advantageous in tax terms to participants, acceptable to shareholders it would have to be at s price significantly higher than present value. At 150 pence 30 million shares would do the job. This would be advantageous in terms of capital gains should share price rise. It would be acceptable to existing shareholders who would not suffer such large dillution, be happy to see placing at a price that would value shares higher than the silly present value.
Also would be good for larger investors which would be valuing up their shareholding rather then devaluing it with a low price rights issue.

Re still at it. Barryroe close to closure and SP close to drilling, what planet are you on?, there's only the small matter of funding for both , we are nowhere near close, and the very fact not rumor that our share price is 28p should tell you that, we're alot closer to bankruptcy than we are to a successful farmout. imo

Talking down the Share price again. If you are all so concerned why not contact Providence directly and put your opinions to them. It seems like many have an interest in talking down share price. You are acting as if Providence is bankrupt. This is complete nonsense. We are all a little frustrated and the SHare Price had fallen on rumor and lack of progress. However Barryroe is close to closure and SP is close to drilling. A deal will be done funds will be raised and Share Price will be done. I would suggest that you stop talking diwn the share price if you have any and wait for the facts. If this does not suit sell your shares if you have any and stop presenting rumors as facts

We will see the bottom of this share price this week after the rns on financing. if the rns is not bad it's up from there. very important news this week.

You chaps are strange investors. You talk down your own shareholding with nonsensical afirmations. Who talks down without fundament their own shareholding. That is unless you have no shares and are interested in collapsing share price. Have a nice afternoon

Which funds have been sellling ?????????!!!!!!!!!!!!!!!
Have any of the major shareholders changed recently other than TOR Snr ( and ACC have not sold any shares). So chaps your assumptions about funds selling seem slightly overstated. I do not doubt that the share price has been walked Down. It is obvious that some have an interest in doing so. Does anybody really believe Providence will issue 200m shares at 25p. Non of Institutions would agree to this.