Ann: Trading Halt, page-93

Same happened for KDR (hard rock lithium play) actually when they did their big $20m raise in 2016, a price rise immediately after cap raise rather than the traditional fall as you might expect. Price immediately went up. Usually 9 out of 10 times the price will fall to cap raise price but if the FA story is super strong, as is the case here, then you just don't know.

My explanation is it was sort of like the "weigh of uncertainty" for investors around low cash and costs was lifted ...ie, for PLS & KDR. Especially if its a big raise, which will completely cover costs for the next several phases of drilling and/or studies. Cap raises are usually done on a slight discount to the 10 day VWAP (Volume weight avg price). Lets hope its to Sofi's as then it will be done quickly ...rights issues to retailers tend to drag out for a long time. Either way if it does fall back to cap raise price it won't be there for long IMHO.

Realistically we could be looking at 50% (or more) of the worlds known high grade (above 1%) hard rock Lithium in spodumene at Manono/Kitotolo...so question you need to ask yourself is what do you think a fair market cap might be for such a international scale world class resource in the future ?