I want to run through my thought process on @panglobalspain and how I got interested last fall and a mistake I made (funny to me) along the way as well as where I think it is going. Credit to @ericcoffin_HRA for putting this one on my radar in his newsletter last year. (1/14)

This is a VMS project in Spain's Iberian Pyrite Belt. $PGZ.V finished a first round of shallow drilling last fall where they were drilling to simply gather information to allow them to better target the 'real' drilling. LRD02 purposely clipped the edge of conductor plate (2/14)

It came away with 20.55m of 1.5% CuEq, which included some tin - some was higher grade. PGZ took the info and remodeled for follow up at Escacena. Sadly, finances were on fumes so they had to raise. Big demand so they upsized from $1m to $1.7m CAD in Dec 2019. Drill time. (3/14)

Not so fast. Christmas break then they had to get permission from the farmers whose fields they are drilling on plus get the drill crew. Permission secured and PGZ started drilling by mid February. Plan was 5 holes for 900m total. I believe they could do about 30m a day. (4/14)

3 weeks later, they reported on visuals. "The company has completed two new drill holes (LRD03 and LRD04) and a third hole (LRD05) is in progress. All have intersected semi-massive to massive sulphide and stringer style sulphides, including visible copper mineralization." (5/14)

LRD06 also drilled. A week or so later "With copper mineralization in each step out drill hole completed so-far, we are excited to add two more drill holes to further extend the mineralization." Those were LRD07 and LRD08, these were further stepouts (yellow below). (6/14)

Assays should be coming very soon for holes 3-5, with holes 6-7 next. I know hole 8 was being logged/prepped but I don't think it went to lab before PGZ had to shut down due to COVID. PGZ staying busy with analytical work and no doubt prepping next program. (7/14)

I mentioned a mistake I made. I am limited by my imagination somedays. Image in tweet 2 shows plates being about 200m x 300m. In my wisdom, I assumed that meant that was the extent of 'x' and 'y' and then given hole 2 assay was 20m for z, well, this is small, right? (8/14)

I talked to Eric (HRA) and Tim (PGZ) about that earlier this year and clued in. No, the plates were those sizes because that is the limit of the survey they did. The IP survey didn't have power or resources to go beyond those measurements. Duh. I am dumb retail sometimes. (9/14)

Here is an updated image from PDAC presentation. Two IP lines. Top one is supposedly 200m west of older one that appears at bottom of image. You can see the conductor in bottom left. More importantly, the western (top) image appears to show more intensity. (10/14)

North south dimensions in tweet 10 are 7-800m for the more intense areas in top image and it is tough to say how far south it goes on that image. Who the heck knows what the assays will return but I like the potential scale. Image from tweet 6 shows East-West potential. (11/14)

IP useful "In the Iberian Pyrite Belt, the Las Cruces massive sulfide deposit, hosted in siliciclastic-felsic rock, originally was discovered by a regional gravity survey (McIntosh and others, 1999) that indicated an extension of the Pyrite Belt lithologies"......(12/14)

...."The gravity survey was followed by IP (induced polarization) and TEM (transient electromagnetic) surveys that were effective in defining the extent of
mineralization." Just one example of IP helping see the mineralization. (13/14)

So I took a flier. Assays will of course tell the story. 120m shares out (145m f.d.) and a $13m market cap. Well, I've seen worse tradeoffs although it is a horrible time to be a copper project. Specific gravity in VMS is 4+ - that'll help if they prove a resource. (12/14)

yeah, this last one should be 14/14. my bad.