to make placement to chinese steelmaker

Last paragraph read very much like AED's. I wouldn't vote for it. Look at the free options!

Sydney - Monday - May 5: (RWE Australian Business News) -
Prosperity Resources Ltd (ASX:PSP) has agreed to issue 30m shares at 15c
each with Shougang Holding (Hong Kong) Ltd to raise $4.5m.
Prosperity will also grant to Shougang up to 30m options,
exercisable at 30c a share by September 30 2008.
Following the issue of the shares and assuming all of the
options are exercised, Shougang would hold 19.9pc of the issued share
capital of Prosperity Resources.
Chairman Mr Mo Munshi said, "We are delighted to have attracted
Shougang to be a strategic partner, one of the largest of several
Chinese steel mills seeking to make a significant investment in the Mid
West of Western Australia."
The placement is subject to shareholder approval, Shougang
conducting a legal and technical due diligence by May 16, and obtaining
Foreign Investment Review Board approval.