Wtf, page-18

So you are saying it's down to 35 cents... from 36.5 cents... beauty.

27 June 2017 Dear Shareholder SHARE PURCHASE PLAN OFFER The Company is pleased to offer Eligible Shareholders the opportunity to participate in the Company's share purchase plan (Offer). The Offer will give Eligible Shareholders the opportunity to apply for up to $15,000 worth of New Shares at an issue price of $0.35 for each New Share (Issue Price) without incurring brokerage or other transaction costs. The Issue Price represents a discount of 10.9% to volume weighted average market price of Shares, calculated over the last 5 days on which Shares were recorded as trading on ASX prior to 15 June 2017 (being the date on which the Offer was announced). On 19 June 2017, the Company announced an oversubscribed placement of new ordinary shares to institutional, professional and sophisticated investors (in both Australia and selected foreign jurisdictions) to raise $80 million (Placement). It is intended that the proceeds of the Placement and the Offer will be used for the following purposes: (a) development of the Pilgangoora Lithium-Tantalum Project in Western Australia; (b) corporate, exploration and interest costs as well as project contingency and liquidity reserves; and (c) general working capital purposes. Further details of the Placement and a summary of some of the key risks faced by the Company are set out in the Company’s Investor Presentation dated 15 June 2017 which is available from ASX announcements at www.asx.com.au or www.pilbaraminerals.com.au.