to issue over 2 billion new shares, page-10

wow - will end up 3.5bn shares on issue

re graeme sloan

age.com.au/news/barry-fitzgerald/gold-producers-lacklustre-price-may-start-to-shine/2007/09/02/1188671793951.html


Perseverance Corp

HOW low can it go? It's a question increasingly being asked about the share-price performance of Victorian gold producer Perseverance.

The stock has taken a hammering in the past six months, falling from about the 40[]-a-share level to a miserable 8.6[] on Friday.

The departure of its chief executive, Graeme Sloan, and the looming departure of its chairman, John Quinn, tells you that shareholders aren't happy.

Lower-than-forecast grades, heavy rains and manning and equipment issues at the group's flagship Fosterville gold project near Bendigo have all played a part in bringing Perseverance to its knees.

But some out there reckon enough is enough and that Perseverance at its current distressed levels just might represent some value.


maybe there is a bit of a message in there for other juniors who are in the market to raise funds - the issue will have to be at a steep discount to the prevailing share price, if they want to the issue to be underwritten

used to look at this stock from time to time, donkey years ago, when they started to find some gold at their flagship project

sloan = elephant (when translated from russian) .