re announcement 9.2.07: compare pma to aurox, page-2

Agreed.

From the last releases by PMA it seems they don't have a Bankable Feasibility Study:

A new pit optimisation (I thought this would have already been optimum for a document to be "bankble")

Are looking at ways of maximising magnetite recovery - in other words they appear not to have solved the very problem that contributed to the failure of the operation the first time around (face it metallurgy is rather important in a Bankable Study).

Maybe the Behre Dolbear people are finding some holes, hence the lack of progress on the bank (debt) side. Wait till some directors dump their shares (again) and you will know the answer.

The smartest thing PMA could do with its money is try to acquire AXO.