They had $1m+ in the kitty at 30 Sept, so that less $250k still leaves funding up to 31 March 2012.
What they need 60m shares for, as approved at the GM, is the big question. At current sp that raises only $2m, so no company changing event there. Must just be for working capital from time to time.
Big milestone will be raising $24m equity for Barnes Hill development. Will this be sell down of majority share in project, or massive dilution of PRW issued capital?
Is PRW going to be a company that spots resource potential, proves them up, sells off majority share to larger established mining house, and moves on to next project? Could be very profitable strategy. Germany is unuusal next choice. Understand PRW also listed there, but mgmt team is here.
I'm trying to make sense of all of this before deciding whether to get back into PRW.
PRW Price at posting:
3.5¢ Sentiment: None Disclosure: Not Held
