Steve,Up until yesterday and today the volumes bringing the SP...

Steve,
Up until yesterday and today the volumes bringing the SP right down have been quite small and the resulting dollar loss would have been relatively minor to these small investors.
Certainly the major shareholders are hanging in there.
It seems that there is a general loss of confidence in most speculative exploration companies by the small investors and they are bailing out and accepting their capital loss.
As for PNN,there is still considerable hope in my opinion. The management appear to have taken steps to reduce the cash burn rate from my interpretation of the last quarterly report.
1) Robinson Range exploration is proceeding in an economic conservative manner with results from drillings coming in. Remember also that this a joint venture and the costs are shared with Grosvenor Gold or RNI.
2) In the Musgrave the PNN tennament exploration has been cut back but they have contracted their drill rig and crew to MGV who have nearby tennaments and looking for similar resources. So as well as earning for PNN, any successful drilling results would bring entheusiasm back to the Musgrave area at little cost to them.
3)The Curnamona area is being drilled by several companies for its Braemar iron formation. Now my understanding is that PNN has 40% rights in this project but Sinosteel is funding the project completely from the $6 million put aside in the original Crocker Well Agreement to look for minerals other than uranium. Just look at the recent fortunes of Havilah HAV which is also in the area.
4) With regards the gold in Queensland and the tentative look at prospects in Argentina I hope they are put on the backburner until better financial times as they could evaporate capital. From the report I take this to be the case.
5) As far as the uranium at Crocker Well is concerned, hopefully as Greg Hall of Toro keeps repeating, There will be a demand and higher price within a few years and this will again give a massive boost to PNN.