Hi Folks Rather than mention some irrelevant point from 2013...

Hi Folks

Rather than mention some irrelevant point from 2013 let's look at PGO's Enterprise Value / JORC Resource

PGO market cap is $55M (not including cash at hand) and the JORC resource is 1.45M Ozs (1.25M for Mount Bundy and 200,000 oz for Coolgardie) so that's says to me that it rates at $37 per Oz of AU. Now the Australian average rate for the bigger players in $150 per Oz. I would be interested to hear from others if my sums are OK and if they know of other similar sized producers where we could compare the market cap by JORC resource? In other words, for the amount of gold we have it is very reasonably priced. Even allowing for some further CAPEX we are still looking at 4X market cap before we get to the industry average.

The optimistic investor inside of me says that PGO is a four bagger from here based on these figures.

I know EV/JORC is only one measure but at least we can turn our collective efforts towards some reasoned discussion......

(Someone may be also able to make a better guess at a conservative resource upside for Coolgardie as well?)

cheers

ece