What where currently seeing is short-term volatility which is...

What where currently seeing is short-term volatility which is common in near-term producers in the construction phase, 0.040 cents is key resistance before the sharp rise last year on the 16th of April, current trading range is 0.048 - 0.056 cents with a key break above the 100 day moving average of 0.062 cents being the next consolidation point. A break below 0.048 cents will see the share price trending lower short-term to somewhere in the rage of 0.042 to 0.048 cents until the next announcement.

Great buying opportunity presents its self right now, my view is that most share holders holding PGO have acquired shares above 0.070 cents and with the volume being on offer currently would suggest shares are tightly held, with sellers volume being absorbed into large buy orders.

The real potential of this company will be realised when they're able to develop Mt Bundy. With drill results of 117m at 1.5 g/t outside the current pit design just cements how large the potential resource could get. Near-term issues are capital related, government regulations to approve Mt Bundy and the ASIC of Coolgardie.

At the end of the day there's no reward without big risk investing in this end of the market as Warren Buffet once said "if your not prepared to see your stock price drop by 50 % and be comfortable with it, you shouldn't be investing in the stock market"