Ann: Bank Debt Facilities , page-16

hi El,

I have agree with your post,

The government of Laos has proven to be far more supportive to mining then our current labour government here in Australia.

And this continuing support has been going back for many years now, first with the Mighty Ox of its time, and after that with PNA.

In the very early days there have been many doubters about PNA and the Phu Kham resource but they have all been proven wrong.

And if we would not have had the GFM. PNA would have looked much better without being done over by GoldmanS and the likes.

PNA has learned its lessons and will make sure that they have enough funds to survive another melt down, and in the meantime get their new projects up and running and spread their wings away from LAOS.

They need time to grow, but are going in the right direction and have all the ingredients to make it happen over time.
BH will be the first mine in line and it would be nice to also see the next copper project in Thailand moving into serious development.

We are lucky to have the demand and shortage of supply for copper on our side and will have that for at least the next couple of years imho.

The very fact that LME stocks are still going down even now, with demand slowing in the northern part of the globe due to hollidays, shows that demand is strong and will get even stronger once everyone is going back to work in that part of the world.

And for the doubters about the reality of the reflection of demand and supply by looking at the LME stocks, let me tell you one thing.

If the chinese had a way to manipulate the price they would, to make sure that they would not have to pay the real price for copper, somehow they seem not to be able to control this, imho tells us that this demand is real and that the supply side is just lacking.

So I think that PNA will just keep moving along with an upward trent, not fast, because its not a wonder stock anymore with all the script that was needed to keep this company alive and kicking.

But it will move up as the management is more then capable to bring the next mine in production and in the meantime the exploration dirt could still bring in that extra bacon anytime.

good luck to all

jojo