strong announcement

Having read the announcement and being stuck in a totally crossed up time zone, I have woken to a missed buying opportunity !

The way I read it its a brutally honest position paper I would have loved management of other companies I have invested in over the years to have had the guts and decency to release.

So PD is overseas on break for what I understand is a 40th wedding anniversary. That to me is a good sign, a sign of 40 years of trust and decency being respected. If he is not here to "prop up" the market I can get over it, I am in this long term.

So what we bought was a little "overstated", you get that in mining, not the first and wont be the last. At least its been laid bare publicly.

So we had some internal issues with lower then expected performance delivery, they were recognised and dealt with...move on.

To those selling, please keep going, I for one will be sitting up late Sunday night here to start to pick a few more off and use this as what I thought was a long gone opportunity to load up.

Thank you to the PNX management for the release, its a rare release of honesty I appreciate.