PEX 0.00% 11.5¢ peel mining limited

Ann: Quarterly Activities Report, page-5

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  1. 4,168 Posts.
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    I just don't get why they are now spending time, money & resources on exploring yet more projects " Bedooba" & "Armageddon" If they were part of Southern Nights or Mallee Bull i could rationalise it. But they are not even close to either ! In fact Armageddon is in the Broken Hill area. I realise that a certain amount of exploration has to be completed on tenements in order to keep them. But the definition for what constitutes exploration is so wide open. That digging a few holes with a shovel satisfies the requirement. 

    Surely the main game here is to be spending all ones time & limited money on proving up a resource calculation for S.N. That is going to be the  money maker for the foreseeable future. 

    If S.N had not been discovered then i would totally agree with the logic of drilling on multiple fronts in the hope of finding a resource. But when such a rich discovery has been unearthed then why is the company off on another drilling crusade ???


 
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