82% of options converted by holders, page-53

Understand your frustration loki. People rave about PXG management but whereas I'm sure they are great with the field work stuff they don't have a clue about the sharemarket.

Every time the SP gets some traction they bring Paterson's in to stuff it up. It happened in July last year when they made a placement through Patersons when the shares were trading at 29 cents. The same thing happened again with the second tranche in September. The third time with the announcement of the underwriting and I'm expecting some similar announcement this time.

EIGHTY-TWO per cent of option holders paid up to exercise their options. Why don't they just dump Paterson's, issue a 1:4 bonus issue of options to all current shareholders exercisable February 2013 at 25 cents and we will have our funding for next year followed by the 2014 options the year after.

There is a floor price of twenty cents. If they had just let market forces go work I'm sure we'd be sitting at 40 cents now.