Gday TG! Just a correction on your post from my understanding as the announcement states.
The primary underwriter is Argonaut. The deal is therefore up to Argonaut as to who gets what in relation to these outstanding options. Subsequent to that, Argonaut has entered into a sub-underwriter agreement with Yandal Investments (Mark Creasy) to take up to 100% of the outstanding option conversions. However, Argonaut (as the primary underwriter) can distribute some to sophisticated investors etc also.
As you point out, it is still very good news. Shows that Creasy certainly wants to increase his holding in PGD and is unlikely to be selling any of his holding anytime soon.
2024 should be a very active year for George and the team and potential to add more discoveries. A few things that come to mind are - I very like the initial assays at Tin Can with more drilling to commence very soon - New tenements acquired from FMG recently was an excellent deal - Drilling to commence on priority targets at Mallina project - Continued exploration work on lithium project
PGD Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
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