Ann: PWN shareholders offered priority allocation - Davenport IPO, page-8

The only way that shareholders will make money or see some of their losses trimmed is for the entire potash sector to go through a bull run like what Lithium has done in the last 9-12 months.

This so called "spin off" is nothing more for the board and their mates to make more fees and use the money to "travel around" business class and network. Will do one or two drill holes to show that they are not completely useless

The only way I would have confidence in PWN or Davenport is that the board stumps up say $AUD2m of their own money, or "underwrite" up to $AUD2m.

Many of the directors from small caps always talk "potential" (which most of the time is an empty promise) but in reality once they raise money they know its a good 24 months to come (depending on how much they raise) and shareholders rank 101 in their top 10 priority list.