Ann: Southern Nights Returns Stunning Drill Intercept, page-45

IMO there is still the management factor that is impacting the price. When management keeps delaying the PFS for a relatively small deposit such as Mallee Bull ( almost a year overdue from the original timeline now ) has not articulated to the market & shareholders what the game plan is then dont be surprised if the stock is treated with less enthusiasm then otherwise might be the case.

The market is not asleep to the Peel story. It is pricing Peel based upon what is happening with Peel. Ask yourself why the recent rights issue was not overwhelmingly supported. But suffered a shocking shortfall ? You cant tell me that all those smart money types in the top 20 are blind to whats going on. That they don't recognise a bargain when they see one. They are treading cautiously here.