opening price monday ... $1.20+, page-4

I've done my homework guys...also check this out from Garimpeiro in The Age this morning:

"THE market was caught napping ahead of PMI Gold's (ASX: PVM) resource upgrade at its Obotan gold project in Ghana. We know that because when it came out on Friday, PMI shares rocketed 46.5¢, or 80 per cent, to $1.04, valuing the company at about $200 million.

Little wonder, too. It is not every day that a gold explorer more than triples a resource estimate to 4.51 million ounces of the yellow stuff.

The question now is, will PMI's share price continue an upwards trajectory. Time will tell. But what is known is that the group's technically focused management team - it's a nice way of saying promotion has not been their strong point, as the market's napping on Obotan suggests - hit the eastern states this week for an investor roadshow.

The team will no doubt be pointing out that PMI now has one of the lowest enterprise value/resource-ounce ratios around.

It is also known that PMI emphasised that the 4.5 million ounces was very much an ''interim'' resource estimate given drilling is ongoing. And it is worth noting that as it stands, Obotan is already the third biggest gold resource held by West African-focused ASX gold companies. Only those held by the $1.3 billion Perseus (ASX: PRU) and the $800 million Resolute (ASX: RSG) are bigger.

And, as an aside, don't hold it against Resolute for letting the previously mined Obotan go in 2006 after ceasing mining there in 2002. After all, gold when the mine closed was trading at all of $US320 an ounce compared with Friday's close of $US1680 an ounce."

This stock could be the next big thing in Ghana...

GL all