i8kanga,You posted:- "Mind you this company has raised a lot of...

i8kanga,
You posted:-
"Mind you this company has raised a lot of money at various times over the past years and have very little to show."

Yes, harsh again when one considers how down and out this company was at the time of the GFC.
I am not making excuses but that is a fact. This company was caught with no cash and had to resurrect itself from nothing.
So bad was it that PIO was there for the taking, for someone to take it dirt cheap!!! and if it wasn't for the likes of David Crook rattling the tin to gain some interest it is likely not one more hole would have ever been drilled by PIO.
How do i know this? well because i along with a few others were willing to take some big risks.
I for one do not share your thoughts and I do think you are being harsh.
Also, it might pay to remember that a fair bit of early costs went towards the Acra exploration for nickel sulphides which is now funded by Xstrata. At the time a reasonable chance existed that Acra could make PIO, but it was very complex and expensive exploration.

Save your harshness and criticism until after the next round of results.

Cheers.