PXX 12.5% 0.7¢ polarx limited

Thanks for posting this. It's pretty clear JPM & Ruffer are in...

  1. 215 Posts.
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    Thanks for posting this. It's pretty clear JPM & Ruffer are in this for the long haul. They are not interested in Zackly but see that a discovery of the size mentioned could see a gold mine built. That's important because PXX could possibly build a gold plant with help but a copper mine is out of the question. Obviously the gold then finances the much more expensive porphyry exploration. As the company points out in its presentations the key to Saturn (and possibly Mars) is that FT believes there have been multiple mineralising events - at least 4. According to FT (at a meeting I attended), each event adds 0.2-0.4%Cu + Au hence the 1% of which he speaks. In the short term there is the issue of another fundraising. Maybe a new s/holder of the type he mentions adds both credibility & cash. Some of the early discussion above doesn't sound accurate e.g. PXX controls a 35km stretch of ground.
    "wedged between a “world class” gold deposit to the north, and a huge untapped copper reserve to the south" . Wedged? Between Pebble & Pogo? That's a distance of 1,000km!  Anyway, it highly prospective ground, if expensive to drill.
    Hopefully there is news on the corporate front because it will be July before we get any drill news. But this is big and PXX has a mkt cap of only $20m. Everyone in the Spurs squad owns this one!
 
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