Ann: Share Placement, page-8

PNN has run out of cash and out of options.

The Australian projects have shown little if any prospectivity, no significant work has reported for quite a while and possibly they have no potential.


The Argentinean lithium adventure, because it was just an adventure, was poorly thought and implemented and it resulted in nought.


PNN failed to attract investors maybe because it shows no promise.


Management has paid itself exorbitant amounts, compare the $250K paid to RHK with the $100K just announced for the Lithium Power International’s CEO and MD, a company with a Market Capitalization of $88 million, 18 times bigger than PNN.

PNN has no business strategy and it is not going nowhere.

It is surprising that some people are still prepared to throw crumbs at it.


It is also surprising, but not unheard-of, that ASIC and ASX have done anything to protect the minority shareholders.


A change of management will achieve little as PNN properties are of little value.

All in all, it is a matter of time before someone writes the obituary.