Ann: Dec 2008 Quarterly Activities Report , page-21

Brucey - People are afraid that PAN is going to ZERO cents per share... People are afraid that the Aussie Stock Market is going to ZERO.

And if you believe all that then now is a good time to sell.

But if the world markets are going to ZERO then losing a few grand on PAN is the absolute least of my worries.

I am optimistic because "THE BUSINESS" works... You are pessimistic because some people chose to sell their shares at any price they could get.

I will lay my faith in the business and the numbers not the idiot CNBC traders who are panicking.

Monday we will see PAN M’Cap equal to Cash and Hedge… And they will probably still sell. The reason for selling will be nickel prices will fall… And yet that defies all logic because the company isn’t even valued on its nickel at that point… PAN Nickel profits at 75c per share are completely fee.