Probably right Bill Gates. I wonder whether the top 20 are comfortable with the oppies lapsing - unless bought on market, these were issued as free attaching in the 2023 capital raising. Lapsing means less dilution of ordinary shares. The exercising brings in millions, but cash is likely a component of the farm-in. Having said that, news could drop any moment and the top 20 perhaps decide 1.2c is attractive when the SP spikes. We have 6 weeks, an inversion study incoming and a frustrated Petrobras. Time will tell.
PCL Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
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