Ann: PNG Project Sale, page-63

Well, I guess it depends on the purchase price for the asset. I'm not sure of what that was, but they spent very little on further exploration. Just a few trenches. So while we probably never did it justice by drilling, and I get that, the Board obviously just wants to focus on the REE and other prospects. If we spent the money in drilling (and we had to build a road to get the rig in) and got not much more than what Newmont did, shareholders would be rightly pissed off.

Anyway, how can it be worth multiple times more than what we paid for it when we did nothing to prove it up ? All the prognostications on this thread as to it being so valuable were just based on hope. Lots of people here also have questioned whether the tenement is of much value given Newmont never really did more than a bit of drilling. So it seems it was a good call rather that put good money after bad.

And for those that thought this is another Lihar, tell 'em they're dreamin !!

BTW, the release specifically says the TH was to report on the Gascoyne assays. Perhaps they are being a bit dramatic with it, perhaps the assays are very good. Dunno. But surface sampling after aerial gravity mapping is always the first leg of any exploration activity. So they are doing it in the right sequence.

Cheers