Ann: Southern Nights Returns High Grade Infill Results, page-79

Chand, ive been very critical of certain aspects of the way Peel operates. But i would not compare them to Cudeco in any way. I never owned a single share in Cudeco. But was super critical of certain aspects of the way they operated. In the end i was vindicated by how the company virtually collapsed & has been suspended from the ASX for the past 12 months. Peel is not like Cudeco believe me !

For a start the second largest holder Josh Pitt is no dummy. But in fact one of Oz's most successful explorers. The 3rd largest holder Will Hodgeson is a high net worth individual & a close friend of Pitts business partner Neil Tomkinson. He closely follows their advice when investing in this sector.

Pitt has made several visits to site & seen with his own eyes whats coming up in the core.

Cudeco was drilling in a super tight pattern. To almost ensure they kept hitting great grades. Cudeco's register was dominated by Wayne McCrae, mum & dad shareholders & obscure Chinese companies. All of whom drank the Koolaid that Wayne McCrae was peddling. McCrae was quick to jump on anyone who dared to criticise him. Threatening regularly with lawsuits. McCrae held the AGM's in Cloncurry which were closely managed affairs. Some speculated that was done to guarantee only the faithful would turn up.

Peel is so opposite to Cudeco. However i do share your frustration with aspects of the way this company operates. The debacle with the Mallee Bull PFS being an ongoing case in point.

I think there is a certain amount of ego involved here from those at the helm. Which can often get in the way of taking on board advice for doing things in a more productive way. As Mickey78 posted some time back there are some geo's who are good at exploring. Who love to bask in the glory of what they've found. But who have trouble converting that bounty into $ because building a plant & mining is no where near as exciting.

At the moment the largest holders are supporting R.T. But if he fails to produce the resource figure by his mid year deadline or thereabouts then IMO they will be calling him to account.