News: PSL Paterson Resources Says To Raise Up To $1.93 Million, page-26

De Grey Mining paid $15 million back in 2017 for Indee Gold's ' Hemi ' Pilbara tenements - but they knew they had something because Indee had ' proven up ' a sizable amount of resource with quite an extensive drilling campaign .

At $12 million what makes you think PSL is even in that sort of Calibre. And companies are becoming more strategic each and everyday that passes by in the COVID-19 induced GOLD rush. So I would also ask what makes you think ANYONE is going to do a deal with PSL for this TINY previous explored tenement package which found NOTHING ! If I was them , I would wait until they are again on their knees with ZERO funds and then offer them some token Farm- In ....and not even a Farm - Out.

Like someone stated here this morning - there are others which are far more preferred and appealing in this space on the ASX at the present moment.

Much more work to be done here in my opinion......and that is why I don't see the ' initial ' value for PSL necessarily being driven by GOLD.