re: Ann: Multiple New Gold Targets Near Bongo... They've lived...

re: Ann: Multiple New Gold Targets Near Bongo... They've lived on hot air and promises from the beginning. Just recently they've been doing a small CR almost every quarter to pay for the next quarter. After the Feb14 CR, which raised $1.4m, at 31 March they had $1.6m in the bank after spending $1.0m for the quarter and before a projected $600k for the next quarter.

I guess the market perceives they can't keep doing this for ever. If they don't come up with a respectable resource with what they have left in the kitty, they might have to pack their bags and go home.

The March Quarterly headlines some reasonable intercepts but the word "resource" does not appear until page 10:

"The March Quarter drilling program on the main Bongou mineralised zone was aimed at identifying potential open pittable high-grade resources. With the completion of this drilling, PDI’s attention has now turned to the gold anomalies shown on Figure 6, close to the Bongou discovery."

And on their list of things to do:

"Re-logging the Bongou core and trenching across the margins of the Bongou deposit to map the mineralised granite’s margins in order to prepare for a possible resource calculation."

Note the word "possible"! Make of it what you will, but I'm not holding my breath.