Ann: PRU: Perseus makes strategic invest. in Predictive Discovery, page-219

Yeah the TIE and CDV experiences are that a lot of value can be left on the table with ASX listed African gold developers and miners but we have to remember that those transactions were at different gold price environments although different jurisdictions and different overseas based predators those things had a pretty clear regulatory pathway forward that was known, the other relevant recent example would be the ORR transaction which is closer in time and gold price to current circumstances.

The different thing about this one is the less certain regulatory/approval pathway, its entirely conceivable that permits will be forthcoming but the timeframe or conditions are a bit harder to evaluate.

As others have said, PRU are well aware of regulatory risk and are competent managers of risk so something is letting them be more comfortable here than almost anybody else.