Can you believe it - 12 months this week since Steve's announced he was moving on! Apart from some further drilling and small addition to the reource this year has been very disappointing. I doubt whether we will get any positive funding announcement before Christmas now. With finance being very tight in this sector I think it is "Groundhog Day" again........just have to wear the explorer hat for another twelve months, improve the JORC standard gold resource at Kundip by following some of the promising leads there. For that to happen probably a couple of capital raisings....then a revised feasibilty study again. And cap in hand to the lenders.
With the change in strategy to now focus on Kundip's Gold any chance of a pre Christmas funding announcement probably has gone south with the drop in gold price. Would have been nice to secure some gold backed funding in the $1800's to progress the project and not have to rely on selling cheap equity.
I am still very optomistic for the junior goldies given the scenarios for global economics. Once a bit of confidence returns and economies start to gear up we must have a period of inflationary catch up..how far away that is is anyones guess. When it does happen it will also be a long overdue catch up time for the junior gold sector(explorers & higher cost producers) who will have survived these difficult few years. Most of the momentum in the market will come from M & A activity.
At todays share prices there opportunities for some good buying......I think PRH is in the mix.
Compliments of the season (including a more prosperous new year) to all.
PRH Price at posting:
2.6¢ Sentiment: LT Buy Disclosure: Held
