Thanks for sharing. It takes an eternity to build trust, but it...

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04/12/17

14:07

Post #: 29350664
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Originally posted by AlbyTangles ↑

I was of the same opinion a couple of weeks back, mate, so I phoned the company to discuss my concerns. This is Garry's response:

"Most of the following is covered in the annual report but to clarify:

The contractor has agreed to defer initial monthly payments of site set up until we pour gold and this way we preserve what cash we have until we make some.

There is little to none Capex to commence Coolgardie – $25k to refit the computers and phones into existing offices and that’s it.

There is not much pre stripping of the pits as ore is either exposed or close to surface in the case of Tycho and A-Cap. The pit expansions are scheduled after cash comes in as is normal practice to balance cash.
There is a payment due to MRP in December which is covered and there is still cash to commence operations – albeit delayed now awaiting final approval.

Have a look at the annual report and take in what we have done in past several months – it is a huge amount of work when I reflect on it and like you cant understand why there is no uptake on the underlying value of PGO, but then again, go and have a look at how NST sat at a few cents for several years prior to any real move before it rocketed – and they only had one mine and 6 mth life for 4-5yr. We have 10-12yrs LOM in front of us without finding one more oz."

I've necked up on here for a while now. I recoil at the thought of coming across as someone who relentlessly posts in support of the company. Simply sharing information from the company – all of which has been stated in recent announcements – which I sought out when reviewing my position and sentiment in PGO.

– Alby

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Thanks for sharing.

It takes an eternity to build trust, but it can be destroyed in seconds... Primary is still only in the early stages of 'building' that trust and the Coolgardie delays are already eroding it.... this is regardless if Garry has made sure the cashflow won't be impacted by them..... I'm not adding anymore until I see evidence they are executing on these most recent Coolgardie timeline changes.

Keep posting!

PGO Price at posting: 3.8¢ Sentiment: None Disclosure: Held
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Thanks for sharing. It takes an eternity to build trust, but it...

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