Ann: Trading Halt, page-25

few comments to respond to;

in regards to what the funds will be used for.
-FEED study
-revised feasibility study
-operation of pilot plant and general working capital.

I reckon it's a smallish raise to buy another 12months of operations. to me the small raise is to minimise dilution as they expect FID and capital finance short term. before EO calendar year is my guess.

regarding people not being happy with the price or who it's to. Has anyone here raised capital before? you can only offer at a price that people are interested in. if there was 5-6m of cash eager to pay a premium then that would happen. this is why 98% of CR are done at discounts the vwap of the trades shareprice as most people who are coffing up cash want a benefit over the market price to give them an ability to sell on market for a profit. or take an entry at an average they wouldn't have been able to do buying on market.

PSC is still relatively unknown and unloved hence the 60m market cap. realistically these small CR are the future until FID and capital finance is secured. The risk in investing in PSC is this is delayed for a long period and you can then only make money trading ebbs and flows. I've done this over the last 6-8months buying in 10-15 selling some 20's. the upside is that when this finance does eventually come through you've got a company who will deliver double their MC in ebitda annually. it's a 1bn stock day in day out once in production. which is close to 20 times upside so the RvR is right in my wheelhouse. happy to sit patiently here as opposed to buying a PLS or GXY or LTR or CXO even an AVZ who might double in the next 12 months if prevailing market conditions stay the same but these are all at large percentages of NPV. PSC can easily go 5-10 it's S/P with capital financing. I prefer that upside - hence why I'm buying here and and only holding others

disclosure I hold avz as a 5Y-10Y outlook.

SF2TH