gas in tank, page-3

Yeah, 22 January was indeed "Black Tuesday" and it marked the start of indiscriminate selling in so many equities. Robin Bromby, writing in The Australian of 04/02/08, marvelled at the extent of what he described as "the forced sale scenario" in the junior exploration sector. Out of all this blackness for juniors, however, he did posit a view that Australia's mid-tier "will either be targets in themselves or, more likely, use their cash flows to pick off the best of the up and coming explorers." IMO, PRE are not bereft of strategic options in the lovely Leonora district and, as I have said before, it is also a major plus that they do have an advisory and funding track record with micro-cap specialist, Cygnet Capital.

Having held and accumulated through thick and thin, I'm willing to wait for the announcement of PRE's initial resource once the results are back from assay by RSG Global (Coffey Mining) as per the 31/01/08 announcement.

It has been a brutal shakeout for all, but it did drastically cut the scrip overhang in PRE and take us to She's technical bottom of .027 (if I recall detail of one of his posts correctly). Best regards, PD