Ann: $2.5M Placement to fund Rio Grande Sur, page-7

Prior to the acquisition of the lithium project in Argentina the PUR share price was around 2.6c based upon the gold and nickel projects in WA. Now a bit over a year later PUR has completed a capital raising at 0.3c, so nearly a tenth of what the share price was before the assets in Argentina were acquired. I think the assets in Argentina have the ability to create real value for PUR, but management clearly has not convinced the market of that in the last year. Therefore, management have got to do a much better job in promoting PUR and stop the churn in the shares. They need to give the investors who came into the last capital raising a reason to hold and acquire more shares. PUR said that the last capital raising was heavily over subscribed so they need to demonstrate that by getting some support in the market. In the next few months PUR has got to get the share price moving up again, as the last 12 months have not exactly been stellar.