POK 0.00% 20.0¢ potash minerals limited

Gap filled but......"The current permits only covers 50% of the...

  1. 1,957 Posts.
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    Gap filled but......

    "The current permits only covers 50% of the project and as such we can only expect the resource to increase towards 50% of the exploration target after the next drilling campaign or until additional Federal Prospecting Permits are issued"

    Funds needed for drilling to increase the resource to only 50% of the 3.4 - 5.2Bt estimate. How will the dilution effect the SP from here? You wouldn't want to hold your breath waiting for more Federal Prospecting Permits to be issued!

    It took this long to get a drill permit, how long will it take to be granted a mining permit, if at all? It is all good and well be be sitting on a 'world class resource' but it ain't worth a thing if you can't get it out of the ground!

    The capitulation in the SP over the past few days has been staggering! It really opens the eyes to how far POK still has to go and how much risk is still attached to this project!

    Good luck to anyone buying more shares before the company releases detail on how they are going to fund the drilling. Although the SP is shockingly low, if a CR was called tomorrow it would have to go even lower IMO.

    Only 50% of the exploration target covered by the drill permits....the first time I heard about this was when I read the Pattersons report today. Not happy Jan!!
 
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