just the start of a good thing

Shame on you Fedex. Yesterday’s release was an initial presentation only. You have no idea what is in the ground on the Adavale tenements and you certainly don’t have anywhere near enough information to be making these sweeping negative statements:

Fedex: “it has anomalies, but they probably aren't as "high order" or "RED" enough”

Fedex: “probably better opps elsewhere. i personally am not in pkt, it needs more.”

Fedex: “it looks average at best in my professional opinion.”

Good thing you weren’t in charge of Olympic Dam’s drill program. After the first drill hole you would have been saying: "ok, let’s pack it all up boys, nothing to see here".

The Lake Surprise radiometrics cover a huge area and they are actually very encouraging and they haven’t even broken dirt out there yet. You can tell a little from rock chip samples at the surface (which we don’t even have yet at Lake Surprise), but you don’t usually find the good stuff until you drill.

Lake Surprise is not far from the Beverley Uranium mine (the second largest uranium deposit in South Australia with 21,000 t of uranium oxide). Do you think they knew what they had at Beverley by scratching around on the surface? The Beverley deposit is contained in an isolated aquifer between 100 and 140 metres underground! But… if in your “professional opinion” Adavale “looks average at best”, then I guess I should sell all of my shares based on an initial presentation.

If Adavale do find the good stuff after drilling, they will also be looking at in situ leaching to extract the yellowcake – same as they do at Beverley. I am not saying that Adavale have a Beverley-like deposit at Lake Surprise… but I am saying that it is way too early for you to be saying they don’t.

I don’t think people should pin their hopes for PKT on Labor’s uranium policy or arbitrary time frames for share price spikes. The share price will largely depend on the fundamentals of the exploration and drilling program and so I think there is plenty of upside in PKT yet.

p.s. Aquarian is correct when he says that Macquarie have been buying for their clients.