phoenix valuation, page-45

I agree with what you are all saying, its just i(could be totally wrong here) think they dont seem totally focused on being a sole producer which is what i think is maybe holding back their MC.

Lets face it, everyone wants their explorers to hit production, cause thats where the money is, and the quicker they can get there, the better in many eyes.

They have a big resource now with 1.64m oz, and will up that in march 12 qtr. So im thinking there is a big enough resource, maybe the lowish grades and no active steps towards sole productions is the only things holding it back.

Maybe the slow cautious approach is the way to go, as mentioned in todays release, they not only getting some early cash flow, but also finding out some valuable info on their ore processing grades etc..


Ill be watching on with interest either way.