Ann: 3D modelling confirms large porphyry target, page-24

Afternoon Guys,

Just forwarding on a view from others, wiser than me, that PXX have sighted smoke but we do not yet have evidence of a fire in terms of whether PXX have indeed got a porphyry. Results from the IP study will provide additional/ required evidence.

This may be why the SP has drifted back ... and the prospect of a CR.

However, in an illiquid junior such as PXX, and in a bear market, I have a tendency to make optimistic assumptions when I smell smoke. Sometimes I am wrong but it is worth a punt IMO.

In terms of location, I agree with FiendishRedbeard that the winter lull is frustrating for investors as SP's tend to drift lower without newsflow.

However, to counter this, look at a publication such as IKN who specialises in LatAm .. they are looking increasingly to North America for their stock specific recommendations (latest example is Alexco for Ag despite there being numerous Ag opportunities in Mexico) as the political environment becomes more and more fraught for mining companies operating in Central and South America.

I would much rather contend with a bit of snow vs. having property rights impinged due to unfavourable/ deteriorating local and political sentiment. It could even be advantageous for LT investors taking long positions during the low point in annual newsflow.

Cheers
John