A top up was going to be needed this year. It is better to do it when the share price is near a high. Infill drilling is not cheap and they want to prove up another deposit to get the share price up for when the big capital raising is done to fund the mine development. The bigger tthe total resource/reserve the higher the share price and less dilution of shareholders (hopefully).
It is a pity that Ghana is looking to raise its taxes on gold miners. I think the PVM share price would be higher if that proposal was not hanging around.
loki
PVM Price at posting:
$1.28 Sentiment: LT Buy Disclosure: Held
