It's a tough time to be raising money in these very jittery markets, so whatever they raise is a bonus. This SPP was done as a favour to appease shareholders who were excluded from previous CR's. The one for three 6c options is a very nice juicy carrot.
The Sanlam placing was filled in a matter of days, so we know there is a hot demand for PIO.
I just think that a large number of Pio shareholders are already maxed out and are sitting on there hands.
Whatever the SPP raises, it's on top of the close to $6 million Pio already have, so we have a healthy exploration budget. We are fine, enough cash to prove up at least one discovery, imo.
PIO Price at posting:
3.5¢ Sentiment: Buy Disclosure: Held
