program update, page-17

sjl
there will be a capital raise in the next 6/12 weeks not months.

Last cash in bank was approx 4 mil as of 31/3/2012.
Drill Programme for this year was budgeted at $5 mil.
Added to this is Metallurgy and technical work to raise the Jorc levels.PEK now has these hot shot PR in it seems the US.What happened to the UK PR?
PEK is in new premises,seems to be doing a number of World trips,Isn't Beasley a new Director Fee?
All in All cash burn is higher and there is obviously a shortfall against cash on hand and Programme Budget.

sjl it is a very foolish management that would allow Cash in Bank to deplete so far that they HAD to raise immediate cash injection. Shaws and the NY brokers would just LUV that ie PEK will raise when they still have $1/2 mil in Bank which probably is their right about now/soon cash position.

So it's been revealed here that a future Capital Raising will be from Shareholders NOT sophisto placement.Therefore sjl you can save up for that instead of regretting missing the supposed bottom in now.

I'm thinking that I'm watching a learning experience in just how good PEK management really is.

How,from where will the necessary finance be raised?
I reckon they need about $6mil minimum raised to carry them to say March 2013 definitive results announcement.

When? imho before August.