Of course I don't think they want to be in this position, but... they are! And I am sorry to say that PGO actually do have their own plant! In the Northern Territory. If the MD really wanted to be a miner, he would have moved heaven and earth to get the plant running in the NT. The AUD gold price is high enough to see the small plant profitable, yet... they decided to buy in W.A, and basically put their main project on hold. Why not sell 60% of it like TAM did with NST. Better to be mining something, than just diluting shareholders to death. Am I being too harsh, perhaps, but... the share price and MC are very low now. The market is saying that Bundy is basically worthless, which simply cannot be true, unless its worthless with the current team in place.
As you say, they should be drilling, but... they are drilling in W.A, not in the NT.
Good luck, if the MC gets down to around $15m, I will buy some, but... only because of the ounces in the ground.
Of course I don't think they want to be in this position, but......
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