Ann: PMI outlines drilling planned in Ghana , page-50

Shellbell,

I believe your assertions are extremely accurate.....

(a). "At the end of the day does it really matter if it is low grade or high grade? As long as they have bucket loads of gold".

Exactly. It all comes down to the DFS.

The PFS has indicated (and in my words): "You have 4.5 million ounces... at an average grade of X grams/tonne... spread over Y area.... at varying depths... which will cost $Z per ounce to extract... after you have built your mine.... and this will return sufficient dollars to pay you back all your debt within 2.2 years."

(b). "I believe that the market likes to see exciting high grade figures".

Exactly, again.
Although the ensuing emotion will be relatively short lived, eventually dimming in the memory of emotional punters.

What is perceived to be a low grade should only have a detrimental effect UNTIL a DFS states that " the grade you have will make a huge net profit".

It's the bottom line that counts.... not just one aspect of the equation.

But please, let's not start branding PMI as a "low grade".
The grade is, by today's standards, better than most.... not as good as some... but hugely profitable.

Your post summed it up very well.

Cheers,
Bripoz.