Ann: Peel Raises $7 Million to Advance Cobar Deposits, page-24

I agree with Nijiman - the grass is not always greener. Whilst progress has been much slower than we would like, the fundamentals have not changed - PEX is exploring in the best terrain in the country, they are finding high grade ore and progressively increasing resources, they are progressing (albeit slowly) towards mine development and they will one day either be miners or be acquired - I have no doubt of this. This is not true of 90%+ of exploration companies who either never find anything commercial or cannot raise funds to develop or are in very risky jurisdictions where they have mine ownership issues or simply milk shareholders and dilute into oblivion etc. PEX cannot be accused of wasting money on excess staff etc - indeed the opposite is true, where they have regularly been criticised on this forum for drilling RC holes and tails instead of diamond drill holes in an effort to save money.