Ann: Trading Halt , page-101

jakspara,

I have to say that if they do a cap raising at such a deep discount simply to have the funds available to commercialise the still "potential" helium or oil or gas, then I will be selling as that would be one of the dumbest moves I've ever seen.

If they discover helium or oil in commercial quantities then there would be plenty of time to raise funds at 20-25c for the commercialisation. It would take months to get permits, approvals and tenders for construction and while all that was going on, funds could be raised.

Can you give me a decent reason why they would raise the funds at such short notice and at such a deep discount just to have money available for possible future infrastructure requirements? I can't see one.

Camdenbob - I've already conceded that valuing PXA's share of the JV would be difficult but the starting point would be the total amount cash called and paid, less any outstanding amounts. Assume responsibility for outstanding amounts, add some money for the potential value that has been confirmed by drilling to date, plus throw in a sweetener to make it all work and there you go. Not all that hard if you think getting rid of a recalcitrant JV partner will unlock some of the value that has so far beeen stifled.

While the ongoing support by the "CTP Army" is very touching it has so far been completely misplaced.

Cheers

Badfish