pmh is cheap compare with its peers, page-14

Ian, totally agree with you on all counts... the clear message that I glean from current activity is:

i. the current drill programme is a key milestone
ii. that the completion of above will lead to the decision of "what and where" will provide the biggest impact for future activity (and by default the nature of that activity)

We could conject all-day on what that future activity may be - sale, more drilling, JV etc (and I'm sure management is far better on top of all options than we), but it hardly seems time to commit to any of these yet beyond extending the resource further for the immediate future.

The thing at present I am confident of is...that the size and scope of the resource will be confirmed and extended - but more importantly, that the process currently underway equally aims to unlock the potential of this resource - after which strategic decisions can be made.

Like you, I sense a strong commitment and interest to see the resource realised in.. as you say, our lifetime.

I reckon the nature of the way the current drill programme is panning out strongly supports your 'hotspot' argument - current strategy is looking to unlock the maximum potential from this resource.

Cheers DL