placement at 47 cents looks ok, page-26

Hopefully no worse than 47 cents.

What happens after today will be determined by what the POG does. My gold gurus keep telling me gold's run is over-extended in the short term, and it was time to take some profits.

Where there is a capital raising unrelated to the expansion of production (such as SLR, MML), it appears that the market treats them with suspicion for some weeks/months, until proven otherwise in an update, especially if they have well known problems.

That tends to mean that the share price drifts lower, and I note there now another 68 PRU million shares about to become available for sale. Let us not fool ourselves that the market just loves it when more shares are added to the share register without any compensating earning potential. The brokers who placed the shares with SI are just itching to offload them for a profit, and make their clients some short term gains. For all I know they may have been selling some of their clients existing PRU shares today to fund the purchase of cheaper shares.

PRU has a lot of upside, and at 47 cents a fair bit of downside.

loki