Ann: Appendix 5B Quarterly Report September 2014, page-5

I agree uttermoron, as I said, PXG is a lower risk company than most in the sector (partly because its MC is so low), a shame they have not locked in a small hedge for the gold to be produced. While the Aussie gold price has been fairly stable, no harm in locking 20-30k in at around $1400 I would have thought.

Somewhat off topic, but there are some seriously distressed gold stocks in the ASX. Just look at SBM. MC of $60 million, with debts of $330. Ha. It would be great if one of the brokers did a big review of the whole sector. It would be very interesting reading. The sector is better off than the iron ore sector, but only just. The difference being the iron stocks made money over the past couple of years. The gold stocks still have not (generalising of course).

I think a lot of investors and even brokers/banks must be taking a hard look at every gold stock they hold.