Ann: Tranche 1 Funds Received for Placement with J&R Optimum, page-39

You could also choose to look at it conversely in the fact that AJM has a much tighter register and therefore there is often less selling. Considering similar amounts of SOI AJM has always been far less liquid than PLS. I take it as a positive because when we move we move quickly, as evidenced by our shift from our based at 13.5 to our new base in a matter of days. Another move like that at comparable percentage and we are back in the 20's.

Tranche 2 / Resource / ML still to come. Holidays seem to have slowed everything up but enough there to get us moving and derisk further when it comes in.

Also for the record PLS had a resource upgrade, news always adds to it's liquidity more than ours, GXY is in the 200 now so will be turned over between institutions like that on an ongoing basis now. And BGS which is often quite illiquid moved yesterday on speculation of their SS due imo,

I wouldn't read too much into it all