Capital raising play, page-27

Hi at Nijiman

I think you’ll find that PEX did use XRF to report the original Southern Nights discovery at Wagga Tank in their announcement of 19 Oct 2017. The results and discovery were later confirmed by assays on the 30 Oct 2017.

I just think with the amount of drilling that PEX have done it’s impractical to report XRF results and then later assay results. It also gets confusing for investors as the two sets of results will always be in conflict to some extent. What I think Rob needs to do is make a little horizontal bar chart with timelines for milestone events (ie the MB FS will be completed in such and such a quarter, the maiden resource estimate for Wagga Tank will be completed by such and such a quarter) and stick to them (he can always give plausible excuses why the events have been delayed if there is need for delays).

When I compare PEX to TLM which is significantly more derisked than PEX IMO I really start to dispare. The market has ground down the value of TLM to less than bare bones, then you have the anomaly of IAU as well, with a mid-Tier high grade copper deposit in Zambia with more than 6 x the in ground copper resource of Mallee Bull (and in a higher resource category with two and a half feasibilty studies completed) and a new JV in the Bryah Basin and all trading at less than cash backing. It’s enough to make me consider putting junior basemetal companies into the no go zone. Esh