Ann: Completion of the sale of the Burraga Project, NSW, page-8

The one thing you should not do at this end of the market is to become emotional but look at the facts.
Yes,it is true that Matt Bull and his mates have a number of listed entities and are drawing cash to support their
lifestyles.But in the end they can only continue to do this if they have success.
I only started buying this stock 3 months ago when it fell to around 1.2 cents so I can understand why those punters
that are in at over 3 cents are not happy.
But let's look at some facts.
1.PSL has just raised $2.6 million from the sale of copper assets eliminating the risk of massive dilution in the short term.
2.Telfer is one of the great gold mining operations in Australia for the past 35 years and there are now discoveries such as
Hemi and Greatland highlighting the enormous potential.
3.The Telfer processing facilities are very hungry beasts with over 25 million tpa being treated and the easy ore at
Telfer has been mined.
4.New open cut sources are essential and PSL's Grace discovery must be very attractive as a potential supply source.
5.We know that one of the structures at Grace is 1000 metres long and looks to be around 20 metres wide so say 50,000 tonnes
per vertical metre or 7.5 million tonnes to 150 metres with a grade of 3 grams.
6.Andrew Forest is now the kingmaker at Telfer.He will learn soon enough ,if he has not already,that Grace is a potential source of ore.
The capitalisation of PSL could go to $50 million in a heartbeat if they resume drilling and get some results.
DYOR