Ann: Drilling Confirms Continuation of High-Grade Koi Lode, page-7

Logic says positive exploration results indicative of expanding significant existing resources in an environment of record gold prices and heightened M&A activity combined with significant cash reserve to aggressively further explore without dilution should be enough.

Added to that increase in asset value of strategic equity investments which is helping to offset exploration costs and maintain overall equity.

I am not sure what other catalyst could have an effect, perhaps some great exploration results at Thunderball and qualifying a JORC compliant reserve there may draw some attention.

We saw some positive activity on the SP when Aus biz gave us a mention, so maybe we need some coin spent on getting PTN some more market awareness and some interviews with management.

The CEO of Barton gold is a marketing machine constantly doing interviews etc and really promoting the company, perhaps a bit to much but it's working. They have a market cap of over 150 million compared to our 98 mill with 80 odd in cash and equity assets.

They have an existing mill which they will need to raise to get up and going but have announced a pathway to 1st stage production and fund second stage from returns so I think that's the difference.

Maybe a release of the Cardinia scoping study demonstrating a pathway to production and some more positive results in the Leonora region will prick some ears up especially if the tier one and 2's in the area take an interest.

Not sure which of these will be the catalyst but the fundamentals here are screaming and when the market decides it's our turn hold on.