Richard Hyde makes reference to their decision to keep drilling...

Richard Hyde makes reference to their decision to keep drilling in various presentations. Widely perceived as a takeover proposition, this created an interesting dynamic in this instance. I believe members of the team have been burnt by low price takeovers in the past. So,they made a strategic decision to keep building the in-ground value of this resource. They will continue to do this even in the mine building phase. My feel is they played for a takeover early on but were keen to protect themselves from offers that, in retrospect, we’re proven sadly inadequate. Looks like they have succeeded in dissuading a low-ball offer but maybe have taken the price out of easy reach of, say, B2Gold. Hopefully, a major comes along and wants to establish a position in this exciting new gold patch. Otherwise we keep drilling and hopefully are delivering gold some time in 2020.

Waiting now for news on the EPCM contract and financing decision. Still plenty of risk and reward here but POG having a good night with US action against Venezuelan Gold exports and heightened sense of Gold’s utility during recent market volatility.

Wish it wasn’t so but we do have to spend plenty for a chance at the big leagues. Share price fall in WAF not out of sync with other explorers/developers, or the spec sector more generally, imo.

All this doesn’t mean something is not amiss with the Company but definitely no evidence for that at this moment vs. a long history of achievement from the Management team. Don’t think the share price fall from highs is a disaster, or even unusual, by any stretch. Would be nice to see an insider or two buying at these levels.