Ann: December Quarter Report, page-14

Thanks Nordesmic

Longer term I feel PRU will need to acquire new assets in order to maintain production. This could result in more share dilution over time. Fortunately their cash balance is building up very well so perhaps they could fund some of the acquisitions from cash generation.

Given the location of their mines, PRU will have a discount for country risk.

PRU is definitely worth a lot more if it can significantly improve the mine life of its operations.

For better or worse I have been selling out of my goldies due to some health issues (nothing terminal but the recent deterioration of chronic fatigue combined with arthritis makes me less willing to take risks. Seem to have got extra bugs from eating out.)

So today I sold the remaining 100k PRU shares. I now only hold a large parcel of GPR shares bought cheaply (but will get a lot cheaper given their problems) and a bigger stake of free carried KCN shares (bought under 30 cents) which is another troubled company with country and management issues but also has the potential for longer term gains over the next 3-5 years if things go its way.

I do not know when I will feel like buying any shares again, and may move most of my funds to an industry superannuation fund. Perhaps if there is a massive general selldown across the markets that also impacts the POG and goldies it will be OK to try some of the producers for a major bounce.

Thank you for your past comments which I always find informative.

Best of luck with your trades.

loki