Ann: Partial Sale of Horizon Gold Shareholding, page-8

PAN have given up their majority holding out of neccessity. The 8km of prospective strike that HRN have to drill will need $$$ and PAN don’t have any of that spare at the moment!

1) They need money
2) HRN need money, and PAN are in no position to trump up their share of cash in a rights issue to maintain holding
3) PAN placing the shares in ‘friendly’ hands.
4) Now HRN can do a rights issue, 1 for 2, 1 for 3 maybe 1 for 4 and PAN can chip in their share to maintain what they have left of their holding?

i wonder why they couldn’t have kept their own holding and just issue 20-30million shares to ZETA @ 20-25c