They can go back to the market, but they will need a very compelling argument, and a resources upgrade will save them, and probably finish them at the same time.
PRE got creamed with a duster in Sacromento, and low cash reserves prior to the GFC. I'd written it off as my next tax loss. The last announcement was excellent and actually changed my mind.
From recent announcement
"The objective is to significantly add to the current gold resource base within the Redcliffe Project area as the company finalises feasibility work and a Mining Proposal on the Golden Terrace South deposit".
I think they will achieve this, and that will be that, it will become easy, attractive prey for a cashed up SBM.
More news soon imo.
Oscar
PRE Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
