If you feel as bullish as me, you better get in soon as shareholders will be able to acquire, for 15c, 1 new share for every 4 existing shares held. Investors will also get a free option (25c on 18/05/08). It is fully underwritten.
Far East capital may also place an extra 5.5m shares under these conditions.
The record date is the 27/02, the opening date for acceptance is the 06/03 and the last day for acceptance is the 20/03.
PDM is going to be a clear winner as on advancement of her Uraniums exploration projects at both Mt Isa and Cloncurry, plus the scheduled drilling for Tungsten in NSW, the market will clearly re-rate her. They will have enough cash for the next 18 months and any exercise of options will swell her bank nicely.
Tungsten is very hot if you have followed the listing of WLF and uranium is obviously becoming a precious metal.
One of the best rights issues I have witnessed for some time hence the demand and increase in the SP.
Good luck.
IOD Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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