this mornings depth., page-32

The holder of the PRR depository notes currently own the shares that have or are being bought through the ASX. They may be after bigger bickies than the current relative ASX sp and may hold out with an inflated US price pending the ASX price moving significantly upwards to the level around which they are willing to sell.

IMO The ASX will continue to be the determiner of the market price for PRR shares as it would not make sense for that to not be the case as the bulk of PRR shares are held by Australians. Some posters seem to think that the depository notes are like a placement and that because no transactions have taken place the placement is a failure. The reality is that its not a placement and the depositary notes represent real shares that have already been purchased or are being purchased through the ASX. BYNM holding those shares will decide when and at what price they may decide to sell the shares. If my view of this, is not correct, I would appreciate any clarification of the issue.

It will be interesting to see what evolves in the coming weeks.