The BP is clearly not intended for a CR or to convince the...

The BP is clearly not intended for a CR or to convince the public, hence it is just a summary for the information of shareholders who are thinking long term. This share is designed to enrich the tight big holders. The dilution will be minimal IMO and that is the way PA has always played it and good on him for that. The BP listed the many companies involved in contributing to it which underscores how impressive it is. The reams of paper containing the details which support the summary and conclusions in the BP document just released may never be seen by us and are purely for those who want to finance it such as Governments, the Angola Wealth Fund, private bankers and private wealth funds. With a 2 year repayment it will be a piece of cake. PRE does not want to prepare a prospectus for a CR, the details of the BP will be for the eyes of financiers only as it was prepared to secure debt funding and not equity funding. IMO they will have no trouble doing that and we will be hardly diluted, if at all. Why would you invite more shareholders to the rich watering hole when you get funding by just selling tickets to watch the drinking. Smart move PRE and with UK Government support the decision to debt fund was easy.

In addition, this BP removes the last concerns SHs may have had about sovereign risk as the Saltend plant will be viable producing rare earth oxides from third parties. It is only one the few available in the UK and EU, so even without Angola and Lonjonjo its future is bright. I am very long this share at an average price of 24c AUD so it is an easy decision for me. Hold, hold, hold. The gyrations of the share price don't bare thinking about although once the market realises that a major CR dilution is not happening it may be interesting to watch the hand break turnarounds. PRE is both an exciting and great share that any serious investor in the future of the world should be in. The BP summary just released supports that more.