prro options may become very attractive, page-3

"Effectively that potentially could substantially offset the need for additional capital raisings in the future".

kbear1, the above is very significant and is probably not yet understood by some shareholders and the market.

Assuming that all works out, this is in effect a CR raising taking place NOW at 22 cents. It is very possible that many will end up converting to full options well before the expiry date thus avoiding, as you pointed out, the "need for additional capital raisings in the future".

The only "problem" that I have with the entitlement is that I believe that they could have come up with a significantly higher conversion price. Anyway, since it is only existing shareholders that are the beneficiaries of the entitlement, it does not really matter.

Well done management!