""""The company holds a JORC resource of 6 mill ozs gold and 9 mill ozs Palladium in Greenland (within a broader envelope of much more) for which a Scoping Study was conducted in 2013 showing it to be marginal at the time. An update to this study was conducted in 2019 using shareholders' money and based significantly increased Gold and Palladium prices, with resultant figures not reported to shareholders, but at least suggesting in a report to the ASX that this asset was becoming increasingly significant. Since then both Gold and Palladium are significantly higher in price, especially Palladium at over USD 1000/oz MORE adding another USD 9 billion to whatever bottom line result the 2019 SS came up with, and Gold value increase not too far behind. Furthermore AUD has broken massive support suggesting lower ahead, probably toward a long term triple bottom at sub USD 0.5, greatly enhancing the AUD NPV of this Skaergaard project if you really want to look at it. This must be exciting some clever local and/or global parties seeking Gold and Palladium assets and awed at the potential upside from PGM's current valuation. We guess this overdue awareness is the root cause of increased interest as shown by recent share price and volume increase. The Board is currently scratching its collective head trying to determine priorities given the exceptional potential shown by this globally significant precious metals asset and will advise "in due course".. Meanwhile we may see further interest in our company with likely increased share price and volume from current ridiculously low levels, as wiser and more informed entities seek a rare opportunity to acquire such an asset at what appears to be a fraction of a cent in the perceived market value dollar currently assigned by confused shareholders, who really don't understand the company's current project priorities""""" .
Naturally this Kind of answer might be considered tongue in cheek, by some. But what a missed opportunity to promote the company beyond " we don't know why the increased price and volume"
If I had any real cash I would make a takeover bid now at 5cps to try and steal our cornucopia of precious assets, privatise it and seek relisting in a more serious jurisdiction with suitable JV major. Anglo just reported major increase in earnings thanks to its precious metals divisions. Norilsk would love to control such a primary deposit of precious metals to protect its existing business at the least one might think. And the Chinese? Has anyone asked them in their efforts to move away from Swift and funny money?
Only speculating of course, as with the thought that maybe with more appropriate timely decisions over the past 3 years and given the market mood, especially from Palladium's breakout into blue about AUD 2000 bucks an ounce ago, one could dream we would be now sitting at a buck a share on Skaergaard alone preparing for ten in the coming Gold and currency wars ahead.
Love to see some humility and character to shelve all other projects and focus on bringing the Ice Queen to the throne she so rightly deserves.
I've given up "investing" in stox. Pure speculator now.
Above is my biased musings with tongue in cheek of course. But hey, time to make some real money if our corporate priorities are more correctly aligned with market mood hey ????
PGM Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
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