Providence Resources - PVR Stream Log

lansdowne

That would be good news really Spuddy. The sooner the better really. We will have to face the music sometime.

Hi Spuddy and I understand what you are saying and I agree. I would think that we will be offered some part in the share placement, but at what ratio is the question. My wider point is that Lansdowne have said that their rights issue is a option that they are putting in place in case the other fundraiser that is in the pipeline ( whatever that might be) does not come to pass. Since the only asset they have is Barryroe, the only other way they can get funds is through a farmout of Barryroe of some sort. So I know I am only blowing the brezze but I am hoping that there is some sort of Farmout involved in the One hundred million dollar placement that they are doing at the moment. As I say, ( and it is a wild guess) I am hoping that someone will farm into Barryroe in conjunction with the placement. That would be some good news for us, because if that were the case, and we were given some options on the 11 pence placement, we could at least buy them knowing that those shares at least could be sold at a profit. I would sell them four weeks after buying them just to replace some of my dearer ones. Too many ifs the buts in all this, but sure you have to be saying sometime while we wait. As Sobeit says the Lansdowne General Meeting will hopefully shed some light on things.

We are on day 56 of 70 days ? is that right? I think someone said a while back we could only be suspended for 70 days before we are delisted? and this is day 56? so that means we have 14 more days?? ie. two weeks? can anyone confirm this?

Would it be possible that the other investment that Lansdowne are waiting for is some sort of farmout, and could it be possible that the share placement that Providence are doing at the moment is a part of a farmout, I.e That if they raise One Hundred Million then someone else will come in with the same amount again to do a drill at barryroe. That would be the only way that Lansdowne can raise funds apart from doing a rights issue

@phonner, look up resources and break out the Kleenex

@phonner oh the bitter irony! 😞

I just looked up Providence in the Cambers Dictionary and they say it means "Foresight, prudent management and thrift." I nearly cried.

Mamms, I believe Sobeit's valuation was post equity sale and therefore included the new company capital.

Hello Spuddy, Agree with you, until company make an announcement cant point fingers at them for now. Am sitting tight