Ann: Trading Halt , page-7

Hi dentons.

PNX has so far always looked after their shareholders. The SPP was very close to current prices at the time - and all recipients are nearly up 70% already.

To me the reason for the placement may be twofold; one, to go forward in the exploration of our Moonta style EL and two, to meet the demand of others who want to join the party.

The recent roadsahow was extrenely well received and it's clearly very hard to buy in on-market without subtstantially moving the price as volume, although improving, is still quite low.

PNX has increased close to 350% in 18 months and we've broken out into blue sky, recently surpassing all historic highs since listing .... there is a reason.

It's a buy in my book.

GL.