Ann: Quarterly Activities Report 31 March 2012 , page-3

re: Ann: Quarterly Activities Report 31 March... yes on track but nothing on toll treatment !! only 44k is sales costs of production 136k for the Qtr and 502k for year (costs of production for the year 136k)

So it cost more to toll treat than we made ?? this Qtr
or most likely we stopped the toll treatment early in the Qtr and looking at the year to date which would mean per oz we had costs in the 400's per oz (136k costs) or am I missing something doesn't make sense ...

Overall didn't spark any interest from the market but I think it will hopefully before the years out

Good admin costs to exploration & evaluation & production for a good size team ..shows the guys aren't just there for the paycheck but really want the funds to be spent on driving PXG higher through the drillbit/toll treatments

(have seen some micro's with near the same admin to E&E usually always overseas operation's heaps of business class flights etc)

Happy to buy another few PXGOA today