eastern iron update from quarterly, page-2

Management is meeting with broker to the float this week or next.
10m PTS shareholders @ 20c (to raise $5m)
15m broker(s) @ 20c
11m shares plus 5m options to PTS - FREE

prospectus is out in about 2 months

Chairman - Glenn Goodacre
Consultant Phil Bailey - previously North (Robe River)

Quarterly also said that
"Specialised processing of aeromagnetic data by PlatSearch combined with field investigations and regolith mapping studies indicate that these licences cover over 1,100 kilometres of prospective, iron-rich palaeochannels."
Maghemite is magnetic so it is easy to identify where it is.

This has the potential to be very big.

The major issue that I see is resolving the high levels of impurities - Silica and Alumina impurities seem high, Phosphorus and Sulphur look low. They have, however, only just scratched the surface with drilling and metallurgy.