over 8% of pxupa now owned by a hedge fund., page-31

My current feeling asf is that PPX will survive but PXUPA will be income deprived for 2-3 years minimum which in my opinion is why PXUPA are falling harder than PPX

the short term buying by coastal held them up a bit , but
i think tax selling is killing both , I have a feeling we may see a rally some time soon in both maybe up to 12c and $12 after july 1 or if Toby was to resign

I think a 100 for 1 swap is fair and in time might be on the cards or alternatively if PXUPA holders allow a buy back by PPX and cancellation of those PXUPA that are bought back it would be in every ones interest .

eg If PPX had of bought back PXUPA on market at current levels all parties would be better off IMO .

PXUPA holders dont have to sell but those who want out can do so , it reduces the total liabilities to PPX and as the selling thins on the PXUPA the buy back stops .


Just an opinion from a largish holder of PPX and a small holder of PXUPA