That would only worry a trader. For investors, the news out today looks very encouraging...
That is to say, in April 2003, PIL received a preliminary evaluation of the Jaguar Project from Snowden Mining Industry Cnsultants.
Based on 1.4mt at 3.7% Cu, 13.2% ZN, 140 g/t Ag and 0.18 g/t AU, Snowden concluded that Jaguar could generate Total Net Cashflows of A$30.7m over 5 years.
Since then, we have had a 23% upgrade in resources to 1.72mt and an increase in the price of copper, Zinc, silver and gold even taking into account the increase in the A$
So Jaguar should be very profitable with strong cashflows hence, TANAMI Gold became a major shareholder and inject cash into PIL in order to accelerate the activities leading to production.
That is why PIL is a good stock for the medium to long term.
Additionally, PIL has a good asset in Request DSL, the soon to be confirmed JV with TAM over its tenements and the continuation of the JV with Inmet.
