I think PXG management are more switched on than most. I am...

I think PXG management are more switched on than most. I am hopeful that management like them are going to do whatever is necessary to survive the current market conditions. i.e. Find an explorer with cash and merge. nil sum premium. Just do it. As the companies that survive will more than reward their shareholders in the future (IMHO).

That being said, the problem is that the ASX is littered with goldies that are bleeding cash.

Tough situation right now, but we must be getting closer to the bottom than the top. As decent producers are basically being valued at zero now.