pmh is cheap compare with its peers, page-8

Ian, Danube,

Nice to see some discussion and looks like we're largely on the same page - my sense is similar - they know it's there and they know there is more resource than initially indicated - and of course the copper-iron appears to be bonus.

My guess is they will continue to drill and confirm hole by hole while stitching up a deal - presumably under conditions which see extraction move forwards in a reasonble timeframe and not sit on some major players 20 year workplan. My tendency is to agree that it is best (and likely) to confirm and sell out (or rather most), than go into extraction.

Why? And this is just pure conjecture on my part.. because I think they want the cashflow and have their eyes on other balls! One possibility is that, I don't see Ann Mason in isolation nor do I see it as the end, perhaps it is a means to an end. The SA gvt e.g. is throwing money into exploration at Blue Rose and I think there is an interesting tangled little web of interests and possibilities there. I almost sense that if PMH goes into production, then that will be where it does it. This also supports it rationale for the deal with PEN etc - which I think was strategically based.

What do you think? Is AM the means to get the BR JV up and running or could it be visa versa? The current focus and time-frames suggest the former. But feel free to shoot me down in flames! :)

The SP is interesting, the trading is also interesting. Yes, its tightly held and I sense that PMH is largely happy not to have it heavily traded and the risks associated with becoming more high profile at the present time.

Danube, if we are looking at similarities, what was the SP and trading action for Tyler prior the sale? Did Tyler have a strategy of developing a significant resource in a low key way pending sale? And what happened subsequently, i.e. how were shareholders rewarded for their faith and perseverance?

Whatever... I think PMH is a gem and like most others I can wait... then again there is a part of me that just can't wait... to see how it all pans out!

Cheers, Donna