Ann: Misima PFS and Maiden 1.35Moz Ore Reserve, page-19

I think the share price looks worse than it is. Gold will hit 3k AUD by the time they are pouring ounces. An Oz of gold from PNG is still an oz of gold. The only non gold macro question I see worth asking, is 'will they ever produce gold?' If you think they won't, don't buy. The newsflow isn't that inspiring. If you think they will, then you are looking at a 1b company in 2 years for a paltry 65m now. I've just realised how much the market doubts this will ever pour gold and how much the market hates the location. Mining is important to PNG and i don't see them nationalising the mine after KSN builds it.

I think I'm gonna go all in contrarian position on this significantly de risked bet.

in regards to Livingstone, I don't get why people are unhappy with it. They are patiently trying to develop a 2nd project in an great jurisdiction while getting their main project going as fast as they can. Livingstone has great potential and could be another million ounces as well as more short term newsflow to help when it comes time to cap raise.