RE: RE: eodwayTo spin off and or sell outright is very premature at this juncture and reflects frustration in the stock price as opposed to anything rational (ie: the drill results did not spark the decline in share price).
Wellgreen was acquired on X date and at X price. The "assumption" required on behalf of investors in regards to Wellgreen is that at a future date, X investment into the property will increase its value. That said, what was revealed today?
"The 2010 program has extended the 2008 resource to the east....highly encouraging as they demonstrate a potentially new mineralization trend....(Fugro airborne magnetic)...also demonstrate the potential for significant mineralization to the east...."
PCY, in 2011, will drill to the east!
The investment of additional drills in the east holds the potential to increase Wellgreen's value.
A less costly investment on behalf of PCY is to assay all previous core drills for all 6 platinum group metals (ie; platinum, palladium, rhodium, osmium, iridium and ruthenium). Previously, those core samples were only assayed for platinum and palladium. Rhodium, as an example, currently trades in and around $2200 oz.
The coal properties of Ulaan Ovoot and Chandgana tal are obviously the front and center properties where Wellgreen and Lynn Lake are best depicted as properties in the pipeline. In the case of Wellgreen, additional drilling must be undertaken to render the property as more worthwhile to a potential interested party. One such party is Stillwater Mining who recently paid $118M to acquire the PGM properties of Marathon where Marathon jumped 90% on the news).
Unlike the coal acquisition, Wellgreen (and Lynn Lake) will take longer than 6 months to bear fruit. In the meantime, consider such properties as a "free ride" as they are obviously NOT reflected in the share price.