Day to day discussions on S/P, page-198

Hey Bilsto
Mate when you stop looping your underpants over your shoulders (refer your portrait pic) we just might be able to take your comments seriously. In the meantime their is no doubt in my mind that PLS will be an attractive TO target when Stage 2 is signed off by the board. There is a little bit of surplus capacity in Stage 2 not yet contracted plus a new owner could immediately begin planning a 5m ton expansion for stage 3.

All of today’s posters are talking hypothetically using forecast sell prices and DFS cost prices. It’s not a pump and dump discussion at all. The recent increase in resource size above 200m tons demonstrates the huge potential production capacity at Pilgangoora. But it’s not finished growing it’s potential and should get better with time and more drilling. In a recent discussion with an ex director he casually mentioned that the final resource size could well exceed 300m tons with more drilling. It is simply a huge high quality resource and we are so fortunate to have excellent management team running it under the guidance of a carefully picked, highly experienced board. In time it will be considered one of the best mining companies in Australia IMHO.
Chrs W2