Hey So Wat, not entirely convinced that on market buying is the...

Hey So Wat, not entirely convinced that on market buying is the indicator here, nor that there is nothing happening coz we haven't got Aussie traders all over PMH.

At the end of March 9+ million options were converted by the final exercise date - only 750k of the total listed options were unexercised. Thats a fairly significant amount of commitment to hold fully paid shares in my view.

We have 144m shares on issue with almost 50% of those held by the Top 20 - probably likely to be some small shift in this when the majors holdings are updated on the website.

Then there are the loyal holders - many of us who do not have major holdings but who's holdings are of significant number and who it appears are waiting for the resource to unfold and have little or no interest in trading.

I think there is a very clear interest in keeping PMH as tightly held as possible and I think that there are very few holders who do not see the value of the resources in hand and presently under development. Again, many long term holders I think have been building up solid holdings over time and my sense of trading patterns of late have been consolidation by holders rather than traders. I for one continue to buy with no intention to trade it short.

I think Danube, Ian and others on this thread are right, the resource is already significantly undervalued compared to its immediate peers and neighbours and we are yet to see how PMH will determine to move forwards - I simply believe that a decision to mine the district will be taken by the end of this year and that PMH is yet to determine the extent of its involvement in future activity outside of its role in contributing to proving the viability of the whole district (not just its own holdings).

Have seen you have posted on Giralia, and if you know Giralia, then you will know the corporate strategy that exists across the whole family of spinoffs - and you will know that there is significant confidence in this strategy working in support of the end game - we already have proof of capacity in this regard with the recent RHI deal.

Definately worth doing some solid research (on the business strategy, networks and alliances and other PMH tenements - not just Ann Mason, as well as into the overall Yerrington area) if you have a potential interest and not looking for a fast trader.

My thoughts only. Cheers, Donna Leigh