Ann: Half Yearly Report and Accounts, page-93

Hi Banana,

Firstly, I am not be condescending but trying to assist. Your post actually scares me to be honest.

You seem to be guessing and hoping with your investments … you should never invest without understanding the financials / costs / liabilities … Or being able to a degree extrapolate them forward with a reasonable amount of clarity.

Early entries by retail investors have cost lots of money and equally importantly the time cost of holding … a lot of fund managers will sit on the sidelines till the story is clearer and less risk adverse … yes you may pay a little more but usually the return over the invested time is much better anyway.

Losing 14.5c to 2.8c is clearly not viable … protection of capital is paramount in investing, stop losses can assist … or sell early at any sign of trouble, the first loss is usually the lesser loss.

In the mining space both construction and ramp up is the most dangerous time to be invested imo … price over runs, capital raises, grade issues, contractor performance etc, all of which PNR and CAI have had … personally I would stay away to the latter stages of this process.

As you can see PNR sp has risen somewhere over 50% in a short period now confidence is rising in their ability to be profitable … as the broker data in an above post shows a lot of funds are entering whilst retail sell. A lot of retail investors buy the hype of management early on … funds wait for the delivery.

I can assure you “Macquarie” and “Generous” should never appear in the same sentence … they will collect more interest payments pushing back the loan, probably be exposed to an even higher gold price by deferring the hedge … and in the meantime the extra cashflow will allow there loan payments to be paid … ie. their investment becomes safer whilst shareholder returns are disadvantaged for longer.

I agree with @Joelstar in regards to CAI and RRL McPhillamys. CAI is just to risky at this stage, in this high mining cost environment the mined grade are a serious red flag.

Best of luck.