from the bulletin today -petaluma float

Meanwhile, our punt on the tiny cash dispensing company, Customers, has yielded an unexpected bonus of sorts. The company held through its subsidiary, Petaluma Resources, coal prospects in the Canning Basin in the north of Western Australia. Directors plan to float Petaluma off when that company has acquired a suite of copper-gold projects in Chile.

Shareholders in Customers will get one free share in Petaluma for every five parent company shares, held together with an entitlement to acquire further shares in the float. We look forward to seeing the prospectus.