Have any of you ADN baggies considered that maybe James Marsh didn't have the resources to not only acquire but also explore the entire Eyre Penisula?
Maybe he picked out his favorite few spots and started exploring, found his deposits, started defining and doesn't need another 20 deposits.
It's like completely overlooking SRK or FEX as an investment because if they were any good Twiggy would have acquired them and FMG would be mining by now... Doesn't mean that SRK or FEX aren't good investments. Could have made a fortune on them.
PNN's MC is still only $10m and when you consider it's small share registry, distance from ADN and the investors on board it's easy to see why people are excited. Not to mention the historical data.
Ann: Proposed Acquisition and Placement, page-111
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