Phoenix Associates Land Syndicate (fka PBLSQ)

[WhiteSahara]

PBLS is unconcerned enough after several “pit” court wins to go on the offensive with their own litigation requesting damages from the owner. Also, as stated in PR's they have consulted with legal counsel regarding their contract prior to subleasing or participating in other activities. The are also confident enough to spend millions on new mining equipment.

In 2005, losing the pit revenue would have been horrendous. Now with real estate, all their contractors, Best Jets, trucking and Progas, I would guess about 15-20% of net income is based on the pit. Would it hurt, obviously but this company is now very multifaceted and able to withstand some hits. You can’t name many pinkies that can claim that.