Ann: Quarterly Activities Report, page-41

OK we have a 28 November AGM that's 29 days from now.
Under rule 7.1 of the act the Company is allowed a 15% issue without need for Shareholder approval.
For the additional 10% issue of capital a shareholder vote is required.
Now since PGM are asking for approval of the additional 10% issue that could mean they have already Issued the allowable amount of 15% without need for approval. As Hotrock said this has been done in a company called Core Exploration see>> CXO Placement to Yahua Its a novel way of raising money and assuring partners of collateral for their investment.. If PGM have not issued the 15% then they would not need to ask for the additional 10%? right.

It's possible PGM have issued at least three amounts to three different holders all which would be just under the 5% , if the issue was 5% or more it would *require a notice of change of shareholder I think its a notice 604. That's why the company is focused on Scandium for now because they already have a buyer since maybe 2014.

*or maybe a notice is due soon? or announced later this month ..say at the AGM for example!

Yours with Optimism and Respect
Winnie