Peel Mining will be reimbursed in cash for selling about 60% of Saturn to the public (including existing PEX shareholders).
This means that PEX has more money in order to step up exploration at Mallee Bull etc.
Also the PEX management is not distracted by Saturn and can concentrate south of Cobar.
The float of Saturn is a great idea.
Ann: Letter to Shareholders Saturn Metals Priority Offer Amended, page-16
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