Directors buying recently increasing their skin the game adds more confidence, todays buying is more linked to the increase in gold price with investors / day traders trying to make a few pips short-term.
Announcement is likely to be out within the next 9 business days regarding a processing agreement along with the quarterly report which I think the market will likely given PGO in my view, is fairly conservative with capital.
Assumptions; They currently have between $ 2- $2.5 million left, with the bulk of mining payments to Hampton deferred up to 3 months which bodes well for no capital raise until the second half of the year. If PGO chooses to raise capital over the coming months it would almost all come from sophisticated investors or private equity given the current strength of the gold sector.
PGO Price at posting:
4.6¢ Sentiment: Buy Disclosure: Held
