Stormboy1, Ian and Giant have well summed it up. There’s alot of...

Stormboy1, Ian and Giant have well summed it up. There’s alot of good reading through the threads from long term, sizeable holders who know the company well. For what it is worth, here's a few comments...

Since the JORC (Oct 06), PMH has continued to acquire and work up more ground around Ann Mason. The flow of results, evidence that the overall resource will be considerably upgraded in the revised JORC expected this ¼. PMH's resources at AM are significant and well in excess of those held by its neighbours, one of whom (NCC) has completed its PFE, which is well worth a read if you want to understand more about the area, infrastructure and the economics of mining their project for comparative analysis.

So, yes, the resource is massive, and extremely valuable, even on the conservative valuations of 2 yrs ago. But it is in the ground and the CAPEX for development is huge. This in itself presents challenges but probably leads to the conclusion inherent in Ian's posts and clearly stated in Giant’s last - the likelihood of PMH going it alone here, in my view, are small, and they’ll likely look to achieve its value through sale, JV, royalties etc – at least I hope so. After all, this in consistent with the stated business model.

In the meantime, the recent development which Welkin's recent posts outline nicely, is the developments at Blue Hills and indications of the potential to kick off with simple acid leaching methods.

The current focus to U308 in light of some of PMH’s other interests, assets and partners is positive. With nuclear in the US, there will be a massive push for local supply, and you can already see regulatory moves to make that easier in a number of states and nationally including the NRC generic guidelines for ISL. It’s no coincidence I think that they are fast-tracking the work up of Sentinel and plan to deliver a resource estimate, and commence environmental work this calendar quarter, and the timing may nicely coincide with PENs (to whom they sold their Wyoming assets and still have a substantial holding) completion of environmental studies and permitting work next year.

And then we have the Germanium which as Giant indicates, could create all sorts of new possibilities for the other assets, cash generation etc.

The S.A assets are interesting by way of their location and developments around them. I almost sense that they can simply sit, quietly prove up the resource with the small amounts of funding they get from the SA gvt, and work being undertaken by some of their associates in surrounding areas, add value while the industry develops around them. In the meantime, the clear focus is on the US assets.

Our market does not get PMH, they don't get the landscape within which it is working, the size, scope and significance of the AM deposits and the strategic nature of most of its holdings. They don't get the model and the significance of the relationships between PMH, the “mothership” Giralia and their various other partners and linkages.

And, then look at the major holders, the consistency of holdings and the relationships and shared interests.

I would have to agree, at current price, and on current assets and market cap, it’s a bargain… then again we all have our own strategy, expectations, timeframe etc – mines long and I wait for the end game and always get the sense though that anything could happen, at any time. I think that with the revised estimates and other work pending key decisions and opportunities will become more obvious in the next 6 months or so.

Also encourage you make a call…. Good luck with your decision…. DL