News ??, page-111

thequertman, not sure what you mean by this comparison, but I do think there's an important point hidden in here ...

PML announced completion of a CR @5c on 23 Sept 2014 for 20M ordinary shares (with a 1 for 3 attaching option exer. 30 May 2017 - now part of the options overhang for VRI). This CR was to raise funds to accelerate PMLs exploration programs, the last of which was their Dunnsville nickel prospect, which didn't deliver the goods... leading PML to becoming an Reverse Take-Over target (i.e. shell). As you say, holders of PML back then saw their investment drift to 1c by Feb 2105. That CR can't meaningfully be compared with more recent raises as the value proposition is radically different; apples and oranges.

The Veriluma RTO was announced by PML on 8 Dec 2015 together with a @3.5c placement and non-renounceable rights issue (1 to 4) for existing PML holders. This raise was undersubscribed, but eventually completed 2 March 2016 with a cornerstone investor (5M ordinary shares). The recent placement @7c was oversubscribed well before Parmelia Resources relisted as Veriluma on 27 Sept, a month ago.

It's not surprising given a mix of profit-taking and impatience that the immediate spike after VRI's relisting was followed by a return to the latest CR price. We know this normally happens (it was foreshadowed by @Anton Chigurh a while back on this forum). What is much more remarkable - to me - is that some of the most prominent VRI/HC personalities, invested in PML in 2014/15 while it was still hunting for nickel and other metals, have watched it 10 bag since early 2015, but still have chosen not to sell up and move on.

That is one heck of an endorsement of VRI's tech, its management and its future from folks who a year or two ago had their hard earned in a spec. mining stock... and who could have walked away in style anytime in the past month from the new high-tech VRI venture (you know who you are!). I assume that their experience of the market, and their observations relating to the transformation of PML to VRI, have given them even greater confidence in the future of the company than they had when they first bought in... All IMO. R-7