In December 2012 PIR will have 300 million shares on issue...

In December 2012 PIR will have 300 million shares on issue (there are 50 million listed 20c options that expire in Dec - these will be exercised and will deliver $10 million into PIR's cash balance).

Also by December the Company will have released a scoping study, updated drilling results, metalurgical test work, etc etc.

Fekola is a monster. I had a conversation yesterday with a very expereinced geologist and gold company executive who shared his opinion that it will become the most significant new gold discovery in the world in the last 5 years.

So..... the share price in December?

Could be $1.50 ($450 million market cap).

or it could be $2 ($600 million market cap).

But PIR will one day be worth much much more. The work at Fekola has just touched the surface.

So the good news IMHO for those who (like me) have bought and sold PIR is that there is time to get back in before this goes to where it will end up...... somewhere above $5.

J9