Any thoughts??, page-26

G'day Spec

Gotta say first off that despite the tumbleweeds around PGO of late, I'm bloody relieved that what is being said involves an intelligent discussion around facts. Rare on HC in my experience. Thank you for raising your points and giving them substance.

Now, in being totally frank with all on this thread, I went bloody hard at PGO, broke all my rules for investing; increasing my exit price all the way up from $0.09 to $0.15 to $0.20 (which it never hit, falling away from high of $0.17), even topping up on recent lows despite it already occupying a far-too-large percentage of my portfolio. I would not recommend this, and put honestly with hindsight, it has cost me a number of other good trading opportunities – after all we are all here to make dough. And with that said, of course I want PGO to succeed – bias acknowledged.

It was actually acknowledgement of this 'emotional' connection to the PGO story that prompted me to phone Gary. I'd never spoken to him previously, and while it is hard to measure a person purely over the wire, I'd wager that he is a good, honest fella who prides himself in his work. (Character speculation here, just my take from a half-hour yarn with him.)

During our discussion, I asked why target dates had drifted on Coolgardie, to which he responded that:

* Tender docs have been submitted and preferred contractor is on stand-by
* Toll treating agreement is in final stages of being signed off and preferred mill on stand-by
* PFS: GR Engineering are finalising

Beyond that he couldn't say much given such information would be market sensitive. From what I gathered we should expect an announcement soon. Past announcements, including the Investor preso I linked to in my earlier post, give pretty clear hints as to who the contractors and mills might be.

Gary did emphasise that he recognises he has not being the best at promoting. He is a miner. It is an area he is working on, but like a duck on water, he's being busy trying to deliver on arguably the most important milestone of 2017: being in production at Coolgardie.

I did have a bunch more notes regarding recent announcement on Coolgardie exploration and potential impact on PFS, if any, as well as Mount Bundy. At the time the notes made sense, but when reviewing I was not comfortable putting them down as fact given the potential to mislead readers of this thread. I have since emailed Gary for clarification and will update once I receive his response.

Thanks again for keeping us all honest.


– Alby