platina float? who's interested?, page-18

Prospectus to be lodged early April and dispatched to us punters late April.
I find it all rather confusing --

Platina to issue 21.5 mil shares @ 20c = Market Cap $4.3 mil.
Surely HLX will retain 60% of the project or some such figure in the form of Vendor shares.
Say 30 million shares retained by HLX as vendor shares
And 21.5 million shares issued @ 20c to raise the $4.3 mil.

First: $4.3mil is a ridiculous figure for the whole project
Second: HLX management need to retain control
Third: It would be grossly unfair to existing HLX shareholders.

Whatever HLX must retain a large percentage of Platina.
We as current holders of HLX will be restricted to a share placement of $5000 or whatever, irrespective of the number of shares you hold.

Well those are my thoughts.
As an aside:
Palladium currently $352 which is +$15 for the night (or +5%)