may production data, page-26

Bluegoose

"MAD are cashflow positive and don't need to raise capital if they don't want to."

Ans - MAD will spend all their capital plus more if they are to get anywhere near the drill program that get suggested on this thread. MAD will raise more capital

"PGI are cashflow negative and need to raise heaps of capital via weird debt funding and share placement methods."

Ans - Funding arrangements were done to minimise dilution(this is good)
PGI are just about to enter production and have needed funds to meet the capital requirements of their mine construction and working capital. However once in production they then will have to spend very little while generating large cash flows

based on PGI forcast PGI's net cash flow and profits will be multiples of MAD's over the next 3 to 4 years yet PGI's Market cap is just over 100M compared with MAD's almost 500M. PGI will be able to pay consistent dividend's within 18 months

Summary _ much higher profits with a much smaller market cap.

That is why PGI is my number 1

MAD doesn't make your top 10.

PGI is your number 1 pick.

"For a bloke that seems so concerned about production and hence cashflow, you seem to invest contrary to your own song book. Go figure."

I invest for future income just like all those invested in MAD have. My issue is that MAD will not generate enough income in the next 12 to 18 months to justify it's current price. MAD already has too much potental built in to the current price where as PGI is priced to miss forecast's by a long long way.