Well I'm out now at a big loss.
They quite clearly are just monetising the assets to pay for admin while the current employees look for a new jobs.
They don't have enough cash to farm into anything.
They got 2% royalties over zero production in the Cooper. Who knows if that will ever get drilled. And before PGS shuts down.
And the North American royalties are a pittance. I don't think they could sell either of these assets and get $1.6 million, which is the current market cap.
Another micro-cap that I've wasted money on. Thanks God I've made some decent coin on some of my bigger investments.
PGS Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held
