timing is everything

As I related in late May, MR said to me the dual listing would be "rather soon"...

We all have our own sense of what "rather soon" means in the real world - in the commercial world -- in my world, "rather soon" has passed since late May, where now the company is simply taking much longer than anyone, even our CEO, anticipated.

It can not be doubted that instos and individuals alike bought into PRR recently based upon, amongst other considerations, the much touted dual listing of the company.

This significant step in the company's long history is now taking too long to fulfill - and for so long as the company remains silent on the issue, all shareholders big and small are being treated to a failure to disclose.

Having drawn investors into the company based on representations that a dual listing would be completed with due haste, means that it is now incumbent upon the company to inform the market of the reasons for the continued delay, when that listing hasn't taken place within a reasonable period of time -- so I am saying that that 'reasonable period of time' has now past, so we are entitled to an explanation as to why.

These are my views, my opinions - I am a holder and shall remain one for quite some time - this is purely proper commercial criticism on this very important issue of the dual listing, where our Board is stocked with very professional people who are paid very well to also deal with reasonable criticism.

No doubt many will wish to respond with their reasons and justifications for the delay - that's fine - but the only real response worth anything is that which we are owed from the company.

Some may object to raising the issue, and seek to rally in support of MR's not keeping the market up to date on this issue - that's fine - but it is for MR to ultimatley give his reasons for not keeping the Australian and NZ markets up to date - at law only MR is responsible for his words, or any failure to provide them in a timely manner.

I don't wish to start a brush fire by squarely raisng this issue again, I just wish to share my views and suggest that commercially, the company appears to be faltering badly at the moment, with how it is executing this very important step onto the world stage.

Otherwise, all other critical milestones (plus more) have been achieved very well, which is some succour.



good luck