Ann: Trading Halt, page-67

"The thing that erks me out of all this is the fact that it's obvious (not just from the leak to the media) that insiders knew this was all happening and have bailed in recent times only to be able to buy back in at 23c. You only have to look at how much the stock retraced in the last few weeks.
ASIC is powerless to do anything with these sorts of issues due to lack of resources so everyone gets away with it."

Absolute rot abw311.
Sure, those that follow PLS closely may have deduced in past month that a CR could have been on the cards.
Equally, a stock that has run from 12c to 40c in six weeks may have need to go through a period of constructive consolidation, which of course means selling / profit taking by some.
But to conclude that its "obvious" that those that sold on the back of inside knowledge will get to buy back in via the placement at 23c is just plain wrong.
The Foster term sheet states this is an INSTITUTIONAL placement.
At present, as i understand it, PLS does not have many (if any) wholesale fund managers on its register - it's pretty much owned by retail and HNW's.
So it would appear a big part of the strategy of the placement, apart from boosting the funds to speed the Pilgangoora project, is to broaden and strengthen the register by bringing aforementioned wholesale managers into the stock.
Given our current market cap, and where we all want it to go next year, this is pretty important.
Don't be irked, don't do the ASIC rant, just try and understand this is an important part of growing PLS and, should you remain a shareholder post your tant, your future wealth.