I was a participant in the annual Diggers & Dealers conference last week. It was pleasing to see the amount of interest from fund managers at the PGO booth. I saw a regular line of people wanting to talk to CEO Pat over the 3 days. There was also strong interest in the recent acquisition. The mining engineers and mechanical engineers that were around Kalgoorlie all agreed it was not going to be difficult to get the Coolgardie operation back up & running and making early cashflow.
This is very important for PGO's development as we can recycle the cash from Coolgardie asset into our NT operations and prove that up on a much larger scale.
The fund managers were lamenting how there are really very few independent +100,000oz gold developers on the ASX for them to buy at the moment. There is CMM which is capped at a significant premium to PGO and Gascoyne which is capped well above. None of these have the pedigree of Patrizi, Mills and Walta involved.
I think we will see continued interest in PGO and I look forward to the detailed investor presentation on Coolgardie when they are ready.
Good luck to all.
PGO Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held
