restriction applicable to 82 million ordinary , page-2

Great pick up Tobias

The cross (Namibian) listing so will assist the owners of Raptor to dispose of their DYL stock (close to home).

To test the DYL is a 'quasi subsidiary of PDN and is financing PDN's reserve tenements / resources theory' lets watch and see if in the future:

1. PDN acquires off market DYL shares from Raptor (and or Raptor's owners / associates) as it has done in the past from other tenement vendors when DYL has acquired tenements and issued its shares (in whole or in part)as consideration of purchase price; or

2. PDN acquires DYL shares on market (Namibian)as Raptor sells. This will not be as obvious to ascertain as they can buy an odd parcel i.e. not 82 million. It would also not be transperant to Australian market via Australian broking houses in the acquisition phase. We will have to wait to see if any substantial shareholder notice increases come through.

You think either way PDN will act quick if the theory is correct.

Watch this space.

cheers