merger agreement terminated, page-18

Reason given for the termination of the SOA has to be a smoke screen in my opinion and as Chairman Hamish Bohanan says not unusual for offtake agreement schedules for startup projects to have some flexibility anyway.....if they did not include "delay or get out" clauses then management should have some questions to answer.

Fairly obvious to me that SLR have decided now they only really now want the simple option, that is to buy Kundip (the established gold resource which is near to the greenfield Munglinup tenements which is part of todays deal). Why would they want to secure Munglinup alone? So GZ I think you were on the ball with an earlier post that suggested this as the best deal for PRH shareholders.

Clearly we need to have more information on how SLR are going to assist PRH in funding for the Trilogy project. The asset sale of Kundip and Mt Iron and any other gold tenements will provide sufficient funding to see PRH survive long enough to bed down the Trilogy polymetalic project and further exploration.

Perhaps this is a win / win situation as long as PRH gets a fair price for Kundip. Perhaps a clear asset sale o Kundip is the best option for both parties as there was some significant opposition to the SOA.