BarnicCouldn't agree more that PRR's capital strategy re the SPP...

Barnic

Couldn't agree more that PRR's capital strategy re the SPP was flawed from the start.

A few quick stats for you.

Since PRR started to run from 14 April until close of trade last Friday 1,014,871,470 shares have traded with a total value of $65,284,165...= VWAP of $0.0643.

Also an interesting observation that 67.9% of the total volume changed hands in the 12 days prior to 30 April. the VWAP for this period was $0.0633.

On the whole the VWAP for all new investors to PRR is clearly in the $0.063 to $0.064 range...PRR cannot get the SP to anything well above $0.07 to get a successful SPP as most of the new investors are very short term traders who will take profits and cap the SP in the mid 7c range in any case.

For any chance of success PRR needs to adjust the SPP issue price down to say 4c to 4.5c level and offer a real discount to holders to adequately incentivise them to write out a cheque.

As a rule of thumb short term traders (the kind that are in PRR IMO) DO NOT like writing out cheques into capital raisings and have their $$$ tied up and being exposed market risk whilst the deal settles and new shares are allotted.

PRR have received or given themselves very poor advice from the start.