"I am puzzled why this non-producer is worth so much"
thegooch and WangChung summed it up nicely, but the potential of increasing the resource is huge at such an early stage of PIR's life. They have hit the ground running and are going as fast as they can.
"We have established producers, with Nil debt and cash , worth less than this"
I did some quick research but was unable to find exactly which companies you are referring to. Could you please let me know so we can do a comapre the pair?
"Cashed up ?---you are joking aren't you ?"
~$55m at 30 June 2013 not good enough? Especially with no debt and so early in its life. PIR is in a perfect situation as this money should easily be enough until the DFS completes, which then gives us an idea of how they may approach funding. It will also give us time to see what happens in the markets in 1 years time.
"Thnaks for your perspective----Who are the majors to the north & how are they travelling at the moment /"
Anglo Gold, Randgold & Endeavour Mining. From last research, before the big drop in gold price, they were doing OK with operations, but of course there SP probably has not. For further info jump on their websites as I am sure you will find the answers you are looking for.
"there ia a zero change surely of developing this project at the moment"
That's exactly right, and that's why PIR isn't developing it right now. This is a project that will most probably take effect, in terms of starting development, from 1 July 2014.
I look forward to the reply to my question above.
PIR Price at posting:
67.0¢ Sentiment: None Disclosure: Held
