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Ann: Quarterly Activities Report, page-44

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Hotrock1

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30/10/17

14:31

Post #: 28314978
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Originally posted by Winfield ↑

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

View attachment 799287

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ARV have used the same technique to access funds ... their latest AGM announcement seeks similar placements over the next 12 months.

Good way to do it .. especially if you need to give some equity to a product buyer in return for cash in the coffers as a sweetener for an offtake deal to occur

Cheers

HR

just my opinion

PGM Price at posting: 12.0¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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(20min delay)
Last 2.1¢		Change 0.000(0.00%)		Mkt cap ! $13.08M

Open	High	Low	Value	Volume
2.1¢	2.1¢	2.1¢	$536	25.51K

Buyers (Bids)

No.	Vol.	Price($)
1	150000	2.0¢

Sellers (Offers)

Price($)	Vol.	No.
2.1¢	22156	1

View Market Depth

No.	Vol.	Price($)
1	150000	0.020
1	256355	0.019
2	375600	0.018
3	326465	0.017
1	250000	0.016

Price($)	Vol.	No.
0.021	22156	1
0.022	635772	2
0.023	702783	4
0.024	52649	1
0.026	55555	1

Last trade - 15.57pm 27/09/2024 (20 minute delay)

PGM (ASX) Chart

Ann: Quarterly Activities Report, page-44

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Ann: Quarterly Activities Report, page-44

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