looks like buying time again, page-19

Paul Further to youre excellent post.
I do not believe enough credence is being given to the currency movements in relation to PGI. Unlike many goldies all our gold sales are hedged for the medium term(us$1320).Therefore forecast revenues are unaffected by the fall in the gold price.
However, the drop in the aust dollar is having a major positive impact on projected earnings.

cash surplus summary
low $49m peak us1.058=$au46.3m current us$.925=$au51.6m
diff plus $au5.3m.
high$72m peak us$1.058=$au68.0m current us$.925=$au77.8m
diff plus $au9.8m

This represents approx 14% increase in projected earnings.
Yet the share price over this period (.105c to .082c) represents 22% decrease'

A $9.8m increase due to currency change at a P/E of say
10times (730m shares) represents a share price of 13cents based on this movement alone. Go figure.

conclusion.I believe the share movement is based on sentiment/manipulation and certainly not fundamentals