PLE = Great Tax Write-off
This is going to be one of my best tax write-offs ever. Purchase price minus current value of zero = 100% loss.
I told myself years ago to invest only in countrys that have strong laws protecting property values. Unfortunately, I didn't listen to my own advice. PLE will go down in history as the worst gold investment of the current commodity era. Even Novagold has some remaining vaule.
This was clearly the last year for PLE - they had to make it this year or the next tax selling season would do in the company. Unfortunately, just as they were going to meet with the locals the government kicks them where it hurts. There will be no recovery from this blow.