THE MATHS & VALUE

Hi All
We have a timely reminder from the Annual Report about various tonnages of metals and I mean “timely” in the sense of Peel permitting then to mining in the coming 12 -18 months or so…
With our circa six billion $$ of base & precious metals steadily growing in value and in my layman approach I figured ok, let’s call it 3 billion, to cover mining costs, thus as a rough estimate that’s $6.00 per PEX share.

So when I think about rising Cu Au etc and more on the forthcoming under supply of critical metals it’s a very nice (hard to believe) bargain entry point at 15c!

If anyone cares to comment upon why we can can’t or aren’t realistically heading toward a dollar or more within 12 months I’d like to hear why that’s possibly not, a very reasonable expectation?.

Experts worldwide say Cu is in “severe under supply” due to lower grades and a massive under investment in discovery and development of mines, those as we well appreciate require 15-20 year’s in lead time, to achieve production.
Regardless of share price I believe we’re in a prime box seat confluence, a scenario to take advantage of most metal prices becoming “significantly dearer”.
I anticipate we’ll see rich upside from extensive strike and depth around existing discoveries, and from our other semi-proven and virgin tenure, to later add ore once we generate spare free cash by mining Mallee Bull Wirlong Southern Nights & Wagga Tank, over most probably decades to come.
We’ve been fortunate since discovering Mallee Bull that in most drill programs we’ve hit a suite of base & precious metal of very good or higher grade.

Certainly not investment advice people but I’m very pleased to say I somehow persevered since day one and can now sit back to enjoy the fruitful part of this rather long yet interesting journey.
Keep finding the ore Rob, so Jim can engineer the long term returns!
Sarg