PXG is one of the best managed junior on the ASX, were in agreement there but ask yourself why PXG hasn't been a TO target.
The answer IMO is these are marginal assets, and while gold is at it's current levels it is an unattractive investment.
Bear in mind I am a shareholder, so my opinion isn't a slag off. Management cant make a silk purse from a sows ear no matter how well they run the business.
Ann: Appendix 5B Quarterly Report September 2014, page-10
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