announcement out, page-19

If we look back at the way they killed the momentum in the stock with the 5c rights issue when the stock was trading in the 8s/9s and the SIZE of the rights issue (1 for 2), and subsequent lack of updates - to me it appears as though they've got their money and now aren't so bothered about shareholders.

"This initial shortfall placement was made to a select number of clients of Azure Capital Ltd and BBY Ltd in response to immediate demand received following the closing of the Rights Issue in December 2013.

But the immediate demand wasn't because of PAB's operational successes. It was becauset BBY/Azure pumped up the price after XMAS to get these next investors (sellers) to part with their money. The question now is whether they're going to pump it again to allow them to exit.

It's scary how little this company seems to care except when raising capital.