PGO looks undervalued ........ PGO smells undervalued ...... PGO...

PGO looks undervalued ........
PGO smells undervalued ......
PGO IS UNDERVALUED!!

For whatever reason, there has seemed to be consistent selling pressure for a while now that has kept the share price in the 8-10c range. My feeling is that it could be a larger holder wanting out or to reduce exposure for whatever reason. In my opinion, patient holders will be rewarded eventually. Once this selling stops we could see a bounce quite quickly to around 10-13c in the short term and then who knows after that!

Nobody can dispute the facts about PGO at present:
* 1.4M ounce gold resource to date (Mt Bundy 1.2M ounces + Coolgardie 200k ounces)
* Market Cap of < $40M
* Enterprise Value of approx. $30/oz gold (compared to an average of $80/oz for other ASX gold developers)
* $4.5M cash on hand at last quarterly
* Potential to significantly increase this resource in current drilling program that is just beginning
* Ausdrill (drilling contractor) taking shares as payment for extensive drilling program
* Aiming to be a gold producer in 2017
* Patterson's analyst report values PGO at $0.39/share in next 12 months

I think there is significant upside to the current PGO share price and I'm happy to hold and patiently wait. I have been accumulating parcels along the way as I perceive current share prices as very good value for buying. All of the above is my opinion only but hopefully I have demonstrated my reasons for seeing significant upside to PGO in the near term