Sryinex
10 years ago
I'm happy that they are not offering lower than 1.50 as well. Actually, it says a lot that the stock has not dipped below that price with the 1.1M they just raised. In every other instance, whenever more shares were issued, the price immediately dropped significantly below the purchase price. Here, we're holding steady right at it. I think 1.50 may be a level of stability for a while now.
Again, this all depends on how this equity raise plays out as well.
I hope they do succeed.
The area desperately needs the jobs that this project will bring.
Pike
10 years ago
I saw that... At least PGRX is trying to keep the price at a bottom of $1.50. Once they close out the 25 million the other 1.3 million they owe in unsecured debt will convert to stock. I am assuming it will hold at 1.50. Total outstanding shares will go close to 23 million.
They still have another 747,298 in series A warrants, another 9,298,867 in other warrants. Then we have another 15,404,691 shares that are set aside to the board and other various individuals waiting to be vested.
So all told once every stock is converted and individuals vested have access we will be around 48 million outstanding shares.
Of course this all goes out the window if they do the reverse split.
Hopefully Sichuan will pony up the 20 million to get them through to the Definitive Feasibility Study.
In the end those that are left will be heavily diluted.
Thoughts anyone?
Sryinex
10 years ago
At this point, who knows. If it were me in your position, I would hope for a quick pump and carefully keep your eye on it intra-day to see when buying pressure starts to slow and sell off.
But if you believe that somehow it's going to become profitable for current shareholders even with the impending 20 to 1 R/S, then keep holding.
Also something to mention, this filing confirms that the majority holders(Scott Reiman & affiliates) are still looking to find someone to buy out their positions and they did NOT participate in the 1M equity raise we just had, it was all of the other funds and holders, likely just to average down their positions. This doesn't bode well for me, but others may have a different take of it.
I think the question on everyones' mind is, where is Sichuan in all of this?
smakkdaddy
10 years ago
Scratch that...I guess they do have casinos...
PGRX, are you listening?
Sichuan Chemical, Navajo and Apache tribes, your competitors, somebody, anybody to share in our potential...
I mean, where there is a will, there is a way, always...
Defeat is not an option...
smakkdaddy
10 years ago
Well now, now that we know their homework is done, I'm hopeful that they will keep the PR's coming to help tie all of the components of this saga together...
This thing can come together any number of ways now...
Guess those Indian tribes don't have casinos huh? I mean, it would be in their own peoples interest to invest in PGRX IMO...
Keep the PR's coming PGRX, and do your DD, your investors need to be in the know so we can keep believing, and keep investing...
PGRX LONG
kimbojoe
10 years ago
Hey guys, I've been lurking for about six months on this forum. I bought in a while ago when it was about 14 cents a piece. Factor in the reverse split and you can do the math at how much I'm down.
To be honest, this mine is way off in the future from ever being developed. I've been researching heavily into the potash industry, and in my opinion, I believe that this mine will be developed, but not for many, many years. It's good that they have eliminated debt, but with the price of potash depressed from the highs it saw over two years ago, there's just no point in developing the mine, regardless of who owns it.
Long story short, I'm getting out before the next public offering. I've heard from a few sources that it should happen in mid-March. I'm setting a drop dead date of March 14th. Either I sell at $2 or at that date regardless of the price.
I truly believe that the public offering will bring the price down to $1.50, and then it'll drive down even more. Eventually, it'll be a penny stock again and then PGRX will reverse split again to make it a viable stock to institutional investors. Generally, I've found that all the public offerings that PGRX have been to insiders who get the stock in exchange for help in developing the mine. They've already sold off enough stock to get paid, and I'm not too sure how this happens, but they still make money by selling at a price lower than they get the option at (I'm a pretty novice investor if you haven't noticed yet).
Again, I can really see the stock tanking after the public offering to the pennies, and then a reverse split to bring it back into the dollars. Then it'll stay there until the market rebounds and the price of potash returns. At that point, PGRX will find the money to develop or entertain a buyout, and it will be at this point regular Joe Schmoe investors like me will finally make money.
I'm not waiting around for that. However, I will be back to buy the stock for pennies on the dollar.
Just my two cents. Good luck everybody!
smakkdaddy
10 years ago
WTH? Dude...English please.
Bail, or not to bail...
That is the question...
Always optimistic...
But...
PGRX needs a PR to make sense of what they are trying to do, how they intend to do it, and with whom...
An all out PR/media blitz to makes believers of all of us...
Else, how do you intend to raise the capital?
Or, better yet, ink the deal...
Either way, it's time you let us know...
PGRX