better proposal

It is better if the management decides to return 60 cent per share. This will take about AUD$ 39 millions, and PGL still has AUD$ 30 million in cash left by Feb 2009.

If that is the case, then by Feb 2009, PGL has AUD$30 million in cash, and the share price is $0.03/share (current share price is $0.63/share, taking out $0.60 in cash return).

At $0.03/share, at that time, PGL's market capital is about AUD$ 2 millions ( 66 millions shares x $0.03 = ~ $2 millions) while PGL has AUD$ 30 millions in cash. What a good deal !