PXG phoenix gold limited

So I've included the latest Jon Price e-mail. I have included my...

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    So I've included the latest Jon Price e-mail. I have included my comments in brackets to distinguish

    Please find the link below to our latest announcement.

    We have completed 4,100m of drilling at Castle Hill Stage 2 to test the limit of the Kintore tonalite and validate historical data sets within the resource envelope. The drilling hit significant mineralisation to the north outside the current resource envelope and confirmed previous work. Zones to the north were broader than expected and will result in resource growth. 2 rigs are at Red Dam now and when completed, 1 will head to Castle Hill stage 1 to follow up on the large intercept hit last year and infill the deeper drilling to bring into resource category. 1 rig will head to Stage 2 to continue extension and infill drilling to convert inferred resources to indicated and grow the resource position along strike and at depth.

    (I thought the last two anns were OK but nothing special, however JP contextualises them which helps a lot. REALLY looking forward to the CH1 follow up, I suspect that's where things will get exciting).

    Cube consulting are on site conducting our 2nd independent geological audit and the feasibility study is well underway.

    (Excellent to hear this)

    A bit perplexing as to why people are selling below the placement price, however, this is out of my control.

    (And that's the best JP throwaway line ever.)

    What I can control is delivering on our promises as we have done since IPO 2 years ago.

    Our new +4Moz resource and +1m reserve target is readily achievable with results like this, we will generate at least $8m internally from stockpile sales and small mining project developments, we have one of the largest drill programmes in the Goldfields well underway and building a 8-10 yr mine plan at +100kozpa with modest capex of $106m and +$500/oz margin.

    (I think he's saying "so nyah" to the shareprice, and to sub 30c sellers, but this paragraph is a pretty good summary of PXG, and JP is entirely fair in saying he's delivered on his promises. POG is out of his control though, and in fairness I think the market wants to see monster hits not just good hits. NST reported some really good drill results recently and their SP went nowhere. OK their MC is higher but even so...)

    Plenty of newsflow over the next 9-12 months and I look forward to updating you on drill results, Blue Funnel mine development, feasibility study outcomes and financials.

    (Keep it coming Jon. At least with this company, unlike so many others, I have a good timeline for when results will get to market)
 
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