It was not that recent at all I don't think.
He averaged down from ~ 0.07 to like 0.065 back in 2008.
I believe Mr.Palmer owns ~22,000,000 shares and his cost was really high at that time. I have looked through the ANN's for last 7 years and found the ANN where he become a Substantial Holder.
http://research.iress.com.au/IDS/ol...E030000FD5708CE31C3E44073A3150022030000&ppv=0
Ann: Investor Presentation The Pilbaras Next Gold Development-DEG.AX, page-160
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