agm, page-9

Hi Snicket

I think the comment re speccie investors should probably read speccie traders but totally get your point.
The thing with the nearlogy hype with Three Rivers has proved short lived with spike and decline.
It shows that Peaks spike was more Three Rivers related than Ngualla which was expected.
The problem is that even if PEK had moved quicker (which they couldn't because of licence and cash) they would still have spiked and fell like all the others and then we would have a pretty unhappy register looking to get out on the next spike.
I like the way the guys operate, although those that are in for the short term trade probably don't.
For the short termers there should be 3 lots of news to feast on prior to year end all being well.
Assay results from Ngualla, Three Rivers initial scoping results and hopefully a new gold project.
Potential I guess to double the price from here or at least reach the recent highs. I also believe that Sandfire have a fair bit more information to come from their core logging programme so perhaps another boost for the nearology punters very shortly.
Longer term well the sky really is the limit if Ngualla proves to be even a part of its potential. Then of course we have the other gold projects and TRP to keep the price heading north.
Of course all may come to nothing and we stagnate under 10c for the next year or so.
Place your bets...I have placed mine.
Re the other thread about PEK not tracking the gold price. It has been noted that PEK is an explorer not producer at this stage however I believe that they are attempting to address this as soon as possible.
The directors did comment at the agm that whilst they realize the need to raise capital in order to fund the exploration and drilling programs etc they are very conscious not to overly dilute the value of the company to existing shareholders by launching continual cap raisings at low prices. They want the price up a lot higher than it is now in order to secure enough money to fund the 2010 program fully with the placement of the 20m shares we have ratified at the agm. Ideally in the 20's but a spike up will not satify the sophisticated investors and they would simply bale on weakness if the price does not look sustainable.
I have no idea whether they can get the price into the 20's in the short term but that is the goal they are working towards so as a holder I am supportive and hopefull.
As Mark mentioned to me they are keen to show the market that Peak is far from a one trick pony.