Ann: Updated improved resource estimate for the V, page-17

re: Ann: SMM: Updated improved resource estim... missionx I can see your logic, however it's flawed. Deeply, one might add.

Try this simple exercise: Takeover 101, we will call it.

See your bank manager and fix up a loan to buy, say, 49% of the PDN shares on issue, around 300 million shares. Next, discover how many shares you could actually buy on-market, or behind closed doors before the word is out. Missionx on a mission, disturbing the simple minded retail market, who daily votes on a price.

Where it will soon be discovered the grand total of your bank loan might land you with a max of 10% of the company. Indeed, far from a wildly imaginative 49%. Yes, retail punters will soon interfere with your quest to buy on the cheap

The plain fact is, there's an elastic connection between the worth of a company and its share price, and in many cases it gets badly stretched, as in the case of penny stocks riding on nothing but a wave of hope where the market cap bears no relevance to the worth of the company. As in the dot com boom, and more recently a number of mining stocks possessing little more than great promise and a bit of real estate.

Then there's the reverse, where the elastic share price is compressed, to a degree where there's a fair bit of latent energy hanging about. Loaded guns, if you like.

PDN falls into this latter group, it has vast assets, indeed, valuable assets addressing the energy needs of the 21st century, and these assets have an in-ground value which is widely accepted by their industry colleagues, yet retail punters who set the daily price of the share simply haven't got a clue about their worth.

Do take a look at a very easy example of worth, one that happened last year when ORG had an overture from a serious buyer. It provides a prior example of the really deep insight punters have on fair valuations, and how valuations are made by the more serious minded. That is, peer groups with the cash and industry knowledge to buy a company

And one might add, there's an American company who would double the current share price of ORG, given the chance to buy it.

Share prices reflecting valuations - forget it. Share prices are daily popularity votes, nothing more, and they add up to a notation we choose to call "market cap". Sort of like opinions about various football teams.