Ann: Trading Halt, page-12

Regards CLQ
" under the terms Pengxin are to make an initial investment of A$81M by purchasing $~92M shares at 88c to own 16.2% of the company"

If Pengxin want some value they could (if it was my decision) have the 5 million to be raised in PGM at current share price or there abouts (0.16) and for 5 mill bucks they would own 12.5% of PGM. 12.5% of PGM for 5 mill vs 16.2% for 88 million.

They would have to show they a timeline and serious plan for getting us into production.

Management have a good bargaining position for this capital raise. If a big enough company parks some funds here and shows an intention to develop, then we stop being a value trap.

o.k enough from me...