PUR's "Julimar Discovery" in Calingiri East?, page-1099

I agree nwill29, this seems to be a bit of a base in mid 6s.

The sector has had a pullback and correction and formed or is forming a news base not just us.

There will always be a tiddler or two with a rumour around that is defying the trend but overall the whole sector including the mighty CHN is back from recent highs.

Why is this?

Well we know, even if we don't want to know, nothing goes up in a straight line.

CHN and all that follow, yes that very much includes us, have had massive SP growth in the last few month.

Each new leg up will, must have, a consolidation which is often attached to a retrace.

There is still a lot of naivety and false expectation around this sector...most investors are still learning about it and many didn't have that great an understanding about other kinds of mining to begin with lets be honest..you do see some pretty dumb or novice questions getting asked on HC...

And some pretty novice comments and comparisons which leads to novice expectations and assumptions.

And there are some pretty knowledgable investors around too. And knowledgable posters.

Im not the most knowledgable mining investor but I have a keen nose for BS, if someone is posting fluffy unicorns constantly with few facts but its the stuff I and others want to hear I will take note to smile but not take those posts seriously.

We want to believe all positives, likewise we can often panic when we see negatives over emphasized...the middle critical analysis path usually is the closest to the truth in my experience.

So where does this leave us...

Well I think CHN and stocks like PUR are forming a base and market allowing we will head up for another wave of growth.

And we still have our own scoping news pending in the background and anything left field we haven't considered.

What can I tell you you don't know? Well not much.

But to keep in mind on the negative side of things and to temper false expectations expect everything to be late that has to go through any kind of lab.

That won't change for 12 months IMO. But it is true for everyone doing work in Australia so we are not alone.

And on the upside...the good news...?

Well it seems absolutely certain to me, and more so every day that Chalice discovery at Julimar is not the only commercial PGE discovery that will be made in the zone.

Actually it seems likely that the central northern wheatbelt will not be the only PGE zone discovered in WA but I won't digress.

Everyone should have a read of the Quarterly released by DEVEX today and ponder the bright colored map showing EM signatures trending from Julimar northward to Sovereign Hill (Calingiri West) and onwards past Caspins leases.

Read the purpose of their extensive, shallow drilling campaign and what it has found in soil and targets generated.

You will immediately see why our management is now mentioning Calingiri West loud and clear.

It seems QUITE certain to me that DEVEX have a slice of the same mineralization that CHN have further south, it is a clear trending mineralized zone to my eye.

And it seems VERY certain to my eye that IF DEVEX have some of CHN PGE mineralization then we also have some.

But have a slow read of the document and form your own opinions on that one.

So Calingiri West and Calingiri East are looking very good as two shots at company makers to me.

Bindi is a wildcard and the Wubins which never really factored and whatever else we might pick up in the zone are also lesser but real chances.

Then we have the other PGE project North which is a zone Goyder and others are giving increasing attention and the old faithful Laverton Gold which should not be sneezed at.

Before Iron Ore came along Gold had made WA more money that probably just about any other industry so there is a lot out there and a lot still to be discovered.

There is and was so much gold in the WA goldfields that using the old technology a heck of a lot was left behind and it sounds to me like we may have one such deposit out there.

Its hard to get your head around but this PGE thing has only just begun...these deposits are usually spread out and massive...the early signs in WA are showing this fits that model.

Goyder pegging or acquiring leases from well north of Geraldton to south of Bridgetown further confirms that line of thinking.

This whole thing has only started...it will take a while to play out but its going to be an exciting story for those with the patience to wait for all the moves to play out and also wait for the over worked labs to bring on those the drill results.