"My point is that African Pacific Capital sold 50% of PMV to GAU...

"My point is that African Pacific Capital sold 50% of PMV to GAU for 17.5M shares, why would they dilute the value of their share of PMV if it was valued @ 50c."

danr, three points on this:
1) APC sale to GAU is an exit strategy as they will get their market value from SLV if takeover. SLV will give a cash + scrip component id think. GAU dont have the funds to be able to do cash, so APC would only get scrip anyway from GAU so makes no difference. Further, if GAU issued scrip based on 50c, then SLV WILL have to pay more for takeover, which u wont want
2) APC, smart move selling to GAU for scrip, coz if an in-specie happens with Nickel and Nickel is up to 27% then they have automatic investment in Nickel
3) U havn't seen platinum results yet as there may have been tax and stamp duty implications (maybe not) if Makret value higher - not 100% sure if PMV aussie coy or not