re: Ann: Phoenix signs Catherwood Gold Mine d... Yes, surprised...

re: Ann: Phoenix signs Catherwood Gold Mine d... Yes, surprised by the lack of response to this announcement even though this is only a small aspect of the overall PXG strategy.

Paterson's estimated that Catherwood could be worth about $8 million to Phoenix or roughly $300 per ounce which sounds about right when the BFS estimated about $15 million to Phoenix if it had it's own mine with a A$1500 ounce gold price.

So this initial 19000 ounces should be worth at least $5-6 million to Phoenix IMO which will pay for plenty more drilling.