TangoYou are right about PXG having a toll treatment agreement...

Tango

You are right about PXG having a toll treatment agreement with KMC. However, my understanding is that KMC does not have its own plant operational - I believe the got it second hand. So the toll treatment agreement does not mean a lot. KMC had its own ore toll treated.

PXG only has around $8m in cash so in my view they need to conserve this for their exploration effort rather than investing the funds in an operation that looks like being unprofitable.

As regards my view on MSR (which you asked yesterday on the AZM thread), I do not follow it because of my bad experience in two other companies that tried their luck in K-stan (CIG, and MHL). Perhaps you might address that question on the gold thread and some more knowledgeable investor like rowingboat who has been into PRU for a long time and probably has a good understanding of its related companies (and may even have some shares in MSR).

Good luck.

loki