Offtakes etc..., page-25

Panda Hill has about the most compelling fundamentals I've come across in a junior. Yet the share price has hardly appreciated int the last five years, was about 20c in Dec 2011. After completing a very positive DFS, Cradle still sits at a tiny market cap of 43 million at this stage, while others are flying to hundreds of millions based mostly on sentiment and sometimes very little else.
Fair enough, if you got in now and then got 50 or 60 cents in a few months, that would be a nice return. For a long-term investor who has bought this stock for 20c in 2011, I'd call this quite disappointing for a speccie with such potential and considering there was and is risk along the way. There are after all many stockes (e.g. a Red hot one at the moment) where you could have made that sort of return in about two weeks. Goes to show the importance of timing, I guess.