Ann: PEL 87 Project Prospective Resources, page-96

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Hittman

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18/03/25

18:30

Post #: 78316344
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Originally posted by Drswing ↑

About right. Then halve that, and halve it again (for good measure and to be conservative) - (61.2cents / 2) / 2 = 15.3cents USD. Why not halve it again just for fun? - 15.3 / 2 = 7.65cents USD. Then again, for shts and giggles - 7.65cents USD - 7.65 / 2 = 3.8cents USD. (6cents AUD).

Obviously i'm being facetious, to illustrate the sheer ridiculous nature of whats 'possible' here. We really need to get to the bottom of why WDS opted out. I can see there balance sheet is probably not as strong as it needs to be. I can see they have limited exploration spend p.a - of which Namibia would have eaten a big chunk of it. What I want to know is "Is it you (wds), or is it me (pancon)?". Anyway, I digress. Bought more today because I find it very difficult to believe that a prospective resource of this magnitude, does not justify a drill.

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1. Green/Woke Government here in Australia.

2. They currently have much on their plate to work with.

3. Calculated risk vs successful drilling campaign.

4. Prospective IGV not sufficient to warrant a multi drill program to then look to sell off a %

option.

5. Just bad timing, with associated issues from point 1 and 2 combined.

PCL Price at posting: 0.9¢ Sentiment: Hold Disclosure: Held
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