program update, page-20

IMO, the capital raising will be done via 1st offer to share holders and balance will goto shaws.
The share holders will get an offer maybe 1–1 new share and get a free option, the price will probably be around (currently) say 25c and the option could be redeemed into a full share at say 5-10c and could have a life span of three years?

Now playing that through with my mind set, I might get 100k, that's 25k to pay and have another 25k worth of options that will cost me 5-10k to redeem or sell?

I wouldn't get anymore than that, as I am fully loaded with pek ATM and there are other bargains out there that would give me a larger diversified portfolio.

I would prefer just an offer for Options though, say 5c with a 20-35c redemption with a three year expiry. If that was the case than I would buy the full value of my pek holdings.

On this basis, if every holder accepted the offer, they would make 10 mill, understanbly some holders won't be in that position so the balance could go to US if we subscribed for for in that offer to fill the gap.

10 mill should see pek over the line to mining and we holders benefit for our support.

Too easy IMO.