Portex Minerals Inc STACF

RE: My 2 Sense ... need US listing

[dlegovich]

" [...] It is totally premature from a shareholder value perspective to negotiate or sell any piece right now with the sp @0.80. OK so they plan another big drilling program this year-almost double last years budget. OK so go raise another $25m. No problem. I know the protagonists say a JV partner will by itself raise the sp. Wrong thinking. The market has yet to see the 43-101 and updated economics from last year. I have no doubt with this deposit that the exploration and definition drilling of 2007 will produce even more great results. You've got to give the sp a chance to seek a more satisfactory value.I hope Hill St are giving Harlan good advice and are not just trying to advance their own cause to handle a pp and get big fees in 2007 as soon as possible/. Skeptical?-yes. " You hit the nail on the head. With such a huge deposit there is a lot of work to be done = lot of money to spend in order to advance the project. The market is not comfortable with the economics as of today because of the low grade, the logistic problems (= costs) and because it is not yet convinced that the zinc price will remain high for a long time (and, given the falling mining production profile expected in the coming years, it will remain high). Furthermore, the market knows that Selwyn will not be a mine until, at best, 2012. (The only one who doesn't appear to know these facts is Tradergod That's why the stock price is not moving higher. With such a low stock price, when compared to the spending needed to carry on the work, the best the management can do for shareholders is to find a way to drive up the stock price BEFORE the next round of spending. That's why I think a U.S. stock listing is needed now. If management was really smart, they would have done it yet. At this point, any further dilution will only depress the share price.