There are a lot of moving pieces in PEX. They do have joint...

There are a lot of moving pieces in PEX. They do have joint venture funding for Wirlong and MB and are only part owners of these deposits.
MB is at the point that the JV partner needs to take it over. It is high risk for the current Peel team to think they can develop and mine it. They are great explorers by would struggle with the resource definition, metallurgy, engineering and environmental skills to get an open pit started. The way permitting moves in NSW it will be 3 years minimum to any production.
Wirlong is still just a collection of high grade copper intercepts. Needs 1000s of metres of diamond drilling to get a resource. That said it is still an exciting discovery with a lot of scope for expansion.
Best bang for buck at the moment is Wagga Tank which is shallow and mostly drillable by RC. Lots of potential along strike.
May Day has been forgotten for now?
Apollo Hill has lots of signs of being interesting but the current resource is just too low grade. Spinning it out into another company is probably the best way to get it of the books. No doubt the PEX shares will be escrowed for a while (1 year?). So late next year is the earliest that PEX will be able to get any money from this move.
The new lease applications east of Broken Hill are along strike from the ARD Lochlilly project that is currently being drilled. So presumably they are for Cu and Au.