WHEN WILL PTS START SELLING ?
Before float PTS owned 100% of tenements
After float
Direct interest 20.0%
EFE shareholding 45.65% of 80% = 36.5%
Total interest 56.5%
Reduction 43.5%
Cash raised after costs $4.6m
PTS Portion 45.65% of $4.6 = $2.1m
That equates to swaping a 43.5% of tenements for $2.1m
or $48,275 for each 1%
Current Mkt Cap 46m shares at say 50c $23m
Portion of tenements owned by EFE 80%
Therefore each 1% is valued at $287,500 (ignoring cash)
If PTS was happy to swap the original 43.5% on the basis of a valation of $47,275 for each 1% it must be close to start selling down if they are are effectively getting $287,500 for each 1%
Lazza
Tried to buy this morning at 40c but missed out, good luck to those who got in
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