My take on CR is that we had better raise fund now than later as company will be cashed up for drilling and exploration on multiple fronts. The CR around December as previously announced is not an ideal time because of Xmas and New Year’s activities and expenses involved with that season. I believe this is the best time to raise fund and be cashed up while the company is not desperate for cash as we hardly used the previous CR and getting more fund will make PSL an attractive stock in the current gold market. People love companies with cash in bank. I would say that this CR it is likely to be a SPP and a buy back of the unmarketable parcels to get the shareholder register cleaned up as it is over due and allow the existing holders to top up. This management has never let the PSL shareholders down as proven many times so far. We will find out the details of CR on Friday and I have 100% confidence on the management for doing the right thing for the interest of PSL shareholders.
PSL Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
