Hey everyone,I have been out of the country for the past 7...

Hey everyone,

I have been out of the country for the past 7 months so this is the first time I have logged onto Hotcopper for a while.

Jojo,

I posed the question whether PEX was the next sandfire before I left. Whilst the Mallee Bull tenement was always promising, the reason I invested in PEX was for Apollo hill and the Ruby silver prospects. Apollo hill currently contains a resource of 505,000 ounces of gold with excellent recovery rates. All that is required is to clear the aboriginal heritage hurdle and they can move forward towards mining the $853 million worth of gold that is there. I understand that these negotiations can take some time but an agreement could be reached any day. At the beginning of the year, the thing that excited me most about PEX was the Ruby silver prospect. Sure silver is not as valuable as gold but 5.1m at 6500 g/T silver is not bad.

In the meatime, over the coming months I am sure the drilling will continue at Mallee Bull and there will be fluctuations with time between announcements, trading halts and announcements etc. etc. I won’t be trying to trade this as you never know who is watching this stock and will suddenly decide they want in leaving those small traders that sold on the sidelines as the share price skyrockets. Some big players already have stakes in PEX and they may want more.