Ann: Pause in Trading, page-15

I still believe it is worthless, certainly not worth the $19 million post ipo price they are trying to achieve, but you know what they say about a fool and there money, someone will be willing to pay it Im sure.

The compsny could have quite easily drilled this themselves upon satisfying some pretty basic conditions asked for by the ASX, the hardest and most laboursome of which was to seek shareholder approval for the use of company funds. They didn't, instead they have sacraficed almost half their interest in the project and gone to 10 times the amount of work and guess what, still have to seek shareholder approval. It doesn't make sense does it?

Why give up half your interest in what you say is a $200 million asset instead of just meeting some simple ASX consitions? Surely you as a holder in PF1 are upset at such a destruction in potential shareholder wealth? Are you pissed they don't appear to be handing out shares to current holders in the new venture? I would be...