Ann: Unaudited Preliminary Final Report, page-12

There is no doubt PGI is looking pretty sick, but I will clutch at straws and try drag out some positives:

- a MC of A$4.2M (US$3M) gives zero to negative valve on any future projects (its equivalent to spare parts)
- Russian banks, Russian investors, and potential selling down on the Cuba Project to 25%, that was encouraging IMO, and the reference to ' if the project proceeds, or sold' does indicate PGI may not try to fully develop (sell it to the Russki's I say) 
- Claim against the DR Govt, might be a long shot but at least PGI appear to be on the right side of the contractual obligations.
- Impairment is close to a worse case, but again seems likely one of the projects will utilise some components of the LL project.
- China projects, now looking close to a final decision, all China issues aside, the economics look good.