PEX 4.35% 12.0¢ peel mining limited

May Day Gold Pit Widths & Grades, page-2

  1. 5,272 Posts.
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    Hi Sarg,

    I have recently been going through old records about the May Day project & came across the same information as in your post.

    My first reaction was these are great grades. Which was instantly followed by why on earth have they been sitting on this for 10 years & done nothing further with it. Those grades are very worthy of follow up. Not just at today's gold prices but at the price gold has been selling at for the past few years.

    This is the sort of thing that Peel leaves themselves open for criticism on. It is why people become disappointed at the way the company is run.

    They have a series of standout gold intersections that 99 / 100 companies would have been falling over themselves in a hurry to follow up. Yet it simply sits on the shelf as another opportunity begging for a closer look whilst they go off on a new drilling crusade elsewhere. The company M.O seems to be akin to a kitten chasing butterflies.

    Don't get me wrong. I'm really glad it is within their tenements & finally getting the attention it deserves. But it is just another example in a long line up of why the market prices Peel at a substantial discount. Hardly confidence building !

    I hope that J.S, & J.P have sat down R.T slapped him around the head & told him to get it together.
 
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