Ann: PRU: Perseus makes strategic invest. in Predictive Discovery, page-93

Pru will have to pay up for PDI, wait until the dfs and the optimised out shells. Assuming we have a mining permit I don’t think they will be able to afford it. The npv at spot gold is multiples of the current ev and it can only improve significantly from here considering the recent drilling results and the thick intercept that ended in mineralisation. A lot of money in the bank should see us through until fid. Pru knows all of this and they want our shares cheaply. Remember that they have been sneakily buying on market via a third party (cash settled equity swap) every day for the last year which explains the tight trading range and they will be doing everything humanly possible to keep the share price from running away here. The mining permit must be imminent. I would not be surprised to see some sort of agreed takeover between pdi and pru in conjunction with the granting of the mining permit, because if they don’t move soon they will miss it and they know it.