PRU - Perseus Mining
- Thread starter Brasidas
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- perseus mining pru
Could I suggest you read the broker report on their web site.
Yesterday's announcement was further proof they have an entire district sized gold province on their hands in the Kyrgz Republic.
The up coming news on Ayanfuri and Grumesa (both in Ghana) will be the next real kicker imo.
Yesterday's announcement was further proof they have an entire district sized gold province on their hands in the Kyrgz Republic.
The up coming news on Ayanfuri and Grumesa (both in Ghana) will be the next real kicker imo.
Excellent presentation from AGM.
http://www.perseusmining.com/presentation.11.html
These guys have more gold than they know what to do with. Incredible how few know about it.....
http://www.perseusmining.com/presentation.11.html
These guys have more gold than they know what to do with. Incredible how few know about it.....
Agree with you flyboy. They certainly have some very nice looking tenements with significant scope for some big resources. They seem to chug along upgrading resources regularly. Got in on this stock recently.
Looking ok technically. Just pushed above resistance around $1.50ish on strengthening volume but also the retraction in volume as the price pulled back to the $1.50 line is confirming that this should hold. Its now into blue skys (fingers crossed).
Looking ok technically. Just pushed above resistance around $1.50ish on strengthening volume but also the retraction in volume as the price pulled back to the $1.50 line is confirming that this should hold. Its now into blue skys (fingers crossed).
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Been following this myself,
Although don't hold atm, looking for a possible entry point which may have presented itself at 1.39. Thought this looked good back in the day at 50c, but sadly didn't have the cash at the time to take advantage. While they are in the stage of proving up resources and far-field exploration while continually releasing news, think this should keep the interest up. Definitely one of the more impressive gold stories on the ASX.
Although don't hold atm, looking for a possible entry point which may have presented itself at 1.39. Thought this looked good back in the day at 50c, but sadly didn't have the cash at the time to take advantage. While they are in the stage of proving up resources and far-field exploration while continually releasing news, think this should keep the interest up. Definitely one of the more impressive gold stories on the ASX.
Target of near on 8 million ounces by end 2008
Listing on TSX, potential spin off....
Today's results excellent as always - 150m @ 2.4 g/t, 225m @ 1.6 g/t, 76m @ 2.4 g/t, 116m @ 1.8 g/t it goes on........
also a new anomaly to the SW of the abnabda zone 1300m strong core zone (highest value 63300ppb = 63 g/t) all within a 4300m long anomaly.
Listing on TSX, potential spin off....
Today's results excellent as always - 150m @ 2.4 g/t, 225m @ 1.6 g/t, 76m @ 2.4 g/t, 116m @ 1.8 g/t it goes on........
also a new anomaly to the SW of the abnabda zone 1300m strong core zone (highest value 63300ppb = 63 g/t) all within a 4300m long anomaly.
Re: Target of near on 8 million ounces by end 2008
Still watching carefully,
Todays pullback pullback to 1.30 might provide a good entry, it'll be interesting to see Wall Streets lead tonight. Targetting 8M oz by end of 2008?!... that would put them in the top tier of potential producers for sure flyboy. I guess the way they're going atm it wouldn't surprise me though.
Still watching carefully,
Todays pullback pullback to 1.30 might provide a good entry, it'll be interesting to see Wall Streets lead tonight. Targetting 8M oz by end of 2008?!... that would put them in the top tier of potential producers for sure flyboy. I guess the way they're going atm it wouldn't surprise me though.
Well further pullback in PRU today to 1.25, I eventually decided to jump in at 1.255 as I thought there was a bit of buying pressure building up at these levels, and I was happy to pay that. Sellers don't seem to be overly concerned atm, with many seemingly happy to sit between 1.30-1.40. I wonder if we'll see a rapid bounce back in this one?
PRU spin off - Manas Resources + TSX Listing
Well troops, it came out after market tonight and my first impression is that PRU shareholders WILL NOT be happy.
No in specie distribution of shares in the new company to PRU shareholders - merely a pro rata entitlement - you have to pay to own what you already own!
Second, it's on a 1 for 7 basis entitlement up to 20m shares in total. PRU will retain approx. 42% ownership (just over 50% fully diluted - cute but is there a need?). There's also 2.5m shares in "seed capital" - why you might ask - who gets these shares? GOOD QUESTION.
Third, why is PRU seeking to raise CDN$50 million NOW when the level of dilution will be far less AFTER the inevitable RE-RATING once trading on the TSX. Higher the price = less shares issued......
I would have thought far better to list on TSX BEFORE the spin off - get the re rating then spin off in Canada....
Also, raise the CDN equity in stages as you need it - the DILUTION at current levels will be HUGE!!!
No doubt there will be some releases forthcoming to reinvigorate the stock but tough in the present market environment.....
All in all, some very odd calls by the PRU team.
Well troops, it came out after market tonight and my first impression is that PRU shareholders WILL NOT be happy.
No in specie distribution of shares in the new company to PRU shareholders - merely a pro rata entitlement - you have to pay to own what you already own!
Second, it's on a 1 for 7 basis entitlement up to 20m shares in total. PRU will retain approx. 42% ownership (just over 50% fully diluted - cute but is there a need?). There's also 2.5m shares in "seed capital" - why you might ask - who gets these shares? GOOD QUESTION.
Third, why is PRU seeking to raise CDN$50 million NOW when the level of dilution will be far less AFTER the inevitable RE-RATING once trading on the TSX. Higher the price = less shares issued......
I would have thought far better to list on TSX BEFORE the spin off - get the re rating then spin off in Canada....
Also, raise the CDN equity in stages as you need it - the DILUTION at current levels will be HUGE!!!
No doubt there will be some releases forthcoming to reinvigorate the stock but tough in the present market environment.....
All in all, some very odd calls by the PRU team.
Re: PRU spin off - Manas Resources + TSX Listing
Flyboy,
wtf is going on here?!
I really don't understand why they would be offering PRU shareholders shares in Manas on a pro-rata entiltlement....surely the Kyrgyz licences fall under the issued capital of PRU to beigin with.... but you are right, in effect you have to pay again for something you already own!
What's to stop them further divesting their assets in the future into other spin-offs and then expecting shareholders to buy back into it again. Very disappointed, one reason I bought in was the exploration potential in Kyrgyz.
Fishy as hell mate
Flyboy,
wtf is going on here?!
I really don't understand why they would be offering PRU shareholders shares in Manas on a pro-rata entiltlement....surely the Kyrgyz licences fall under the issued capital of PRU to beigin with.... but you are right, in effect you have to pay again for something you already own!What's to stop them further divesting their assets in the future into other spin-offs and then expecting shareholders to buy back into it again. Very disappointed, one reason I bought in was the exploration potential in Kyrgyz.
Fishy as hell mate
That spin off.
i reckon they'll cop some flak....
It is all rather strange and RUSHED in my opinion.
Sure list on TSX, raise SOME cash now to provide some liquidity in that market but what do they need CDN 50 million for NOW?
Raising in stages, as the price appreciates is far more aligned with CURRENT shareholders' interests....
Why the hurry for the spin off NOW? We have barely scratched the surface in Kyrgyz Republic - what is the rush???
i reckon they'll cop some flak....
It is all rather strange and RUSHED in my opinion.
Sure list on TSX, raise SOME cash now to provide some liquidity in that market but what do they need CDN 50 million for NOW?
Raising in stages, as the price appreciates is far more aligned with CURRENT shareholders' interests....
Why the hurry for the spin off NOW? We have barely scratched the surface in Kyrgyz Republic - what is the rush???
I'm with you mate,
this could get slammed in the market tomorrow, I don't really know why they would need that kind of cash for atm either. Perhaps they feel that if they waited longer, global markets may become more illiquid than they already are now. OK, they'll probably need some cash for BFS's etc for their projects in Ghana, but this kind of fund raising goes way beyond that. First production targeted 2010 right?
Yes I wonder about the Kyrgyz spinoff entity.... it really is still in its infancy over there.
this could get slammed in the market tomorrow, I don't really know why they would need that kind of cash for atm either. Perhaps they feel that if they waited longer, global markets may become more illiquid than they already are now. OK, they'll probably need some cash for BFS's etc for their projects in Ghana, but this kind of fund raising goes way beyond that. First production targeted 2010 right?
Yes I wonder about the Kyrgyz spinoff entity.... it really is still in its infancy over there.
Don't worry too much guys. Although i agree the spinoff is a little bit sneaky and will probably hurt the share in the short term over the longer term i can see this seriously accelerating project development. When you look at the potential of all the prospects this company has then you have to realise that its extremely difficult to bring them forward together in one company of this size. The best way for perseus to help its share price is to go into production. This will definitely help that.
Well it has certainly been a dramatic year for PRU,
Good luck to all holders next year, and make sure you keep keepin PRU honest flyboy. I'll be MIA for the next 3 weeks, so over and out until then.
jman
PS Dammit, what I really wanted for Xmass was a share in those Kyrgz projects!:
Good luck to all holders next year, and make sure you keep keepin PRU honest flyboy
. I'll be MIA for the next 3 weeks, so over and out until then.jman
PS Dammit, what I really wanted for Xmass was a share in those Kyrgz projects!
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