IMHO it is great value at this price. The low volumes available...

IMHO it is great value at this price. The low volumes available confirm that it is very tightly held and that the sales at this price are either people crystalising losses and buying back or just the fire sales that come from deceased estates, you get the gist. There are no serious sellers at this level. It is not being sold down, and why would it. I have been accummulating for a long time now and have just topped the M mark. Why? They have at least 7B lbs of copper which is worth $21B all be it that it is still in the ground. That is $145US of asset backing each share. 16c looks pretty good. However, this is just the Ann Mason asset, which is also likely to be significantly upgraded later this year once all the drilling and results are in on the copper, moly, gold etc. at least that is their stated objective. You have to also consider the Germanium/Uranium potential in their North Dakota site which is likely to be huge, especially the Germanium which I suspect will be the short term focus. Research the price and potential of Germanium and you will see what I mean. And finally, they have a significant stake in what is going on in U in South Australia. No one really knows where this is up to but there are signs that it is progressing nicely. Bascially, in this climate, PMH will consolidate their resource estimates IMO until they have maximised their 'on paper' potential. Then they will move to either mine or sell (or a mixture of both). In this climate, if credit continues to be tight for a couple of years, sales will be more likely than mining. Either way, they have significant value in the ground - real value, not a maybe. However, the SP only reflects what people will pay - which is not much at the moment. In the longer term it will reflect the value of the asset if and when they decide how they will use it - which they fully intend to do - no question in my mind, all the indications are there.