What is your exit plan?, page-9

These are the basic steps (asides from permittiing etc) that follow the MRE on the way to buildiong a new mine. This takes years to play out, a minimum of 5 from intiial discovery to BFS.
* concepual = scoping study




You should also be cognisant of the Lasonde curve when attempting to answer the question of when to exit.


Some would say that the orphan period ( for Bankan Creek / NE Bankan) commences once the MRE is published. There is no doubt that many early speculators have already exitted in anticipation of the orphan period commencing and more will in the lead up to and immediately following the MRE. What they perhaps werent anticipating was last weeks assays with such strong hits at depth indicating the possibility of adding many more ounces and potential for an underground operation under the open pit. The Lasonde curve cleary illustrates the most value is generated in the discovery phase and in the building of the mine years later. Many retailers lose/ dont have the patience for holding all the way through and nor do they sell before the orphan stage kicks off in full. In the orphan phase drilling efforts switch emphasis from discovery to infill drilling aimed at increasing the level of certainty surrounding the deposit to meet the requirements of the fesibility process. Share price stagnates or retracts as the stock becomes "boring" as infill results largely tell us what we already know and expansion drilling tends to give marginal rather than material improvements to resource size and grade...and retail (often) sells at this the worst posible time.

Where PDI will hopefully negate and hopefull thrive once the orphan period commences at the Bankans is the newly discovered potential for high grades and widths at depth, exploration at Koundian with the promising first assaays reported last month and for me personally the 9 new targets to the north curently being peppered by the auger drilling campaign. The "district": scale potential of PDI is why I am holdiing (the full Sprott report posted here previously was very bullish on this) until we get more insight into the depth potentiasl of NE Bankan, the MRE is out (and hopefully surprises to the upside) and we get a much clearer picture of the potential of these other targets which hopefully take us back to the bottom of the exploration value addding phase of the Lasonde curve while entering the orphan phase at the Bankan Creek / NE Bankan deposits.

Hope this helps, alll IMO and DYOR.