Poor Results?, page-8

While it looks bleak given the share price and the shares on issue, latest drill results are indicative of some potential for phosphate production. PWN had little chance of bringing that to fruition themselves but a JV with another entity could eventuate. The likely outcome for holders could see the share price climb into the cents range. This would depend on the world price of phosphate rising. There is no shortage of potential mines out there but PWN have the advantage of locality and low risk. Five cents might be a bridge too far but most holders would probably jump ship in the 2 to 3 cents range and count themselves lucky. Pity the original investors who coughed up 20cents a share.