failed rights, failing company, page-6

They do have the cash from the 12 cent placement + any production sales, but I dare say they probably need the additional top-up to get them through to the end of the next quarter - March 2012 (when they expect Smokey Hills to become profitable).

I guess we wont know what is going to happen until after Christmas and perhaps into the new year. Looks like PLA will be suspended over this duration. Not the best time to be knocking on doors

I was a little intrigued regarding this statement in todays announcement. Can anybody shed any light on this?

...'Any person who acquired rights who wishes to take up shares in the quantum associated with their rights holding and at the Rights Issue price should contact the Company'...

As I bought a few rights on the market (when I was feeling a little too optimistic) and missed a call from my broker today - which I am now thinking might be related? If there is an option to buy here - any thoughts on how long this might remain open?

I'll probably call the company again tomorrow to get another update, if I get any new information I will post here.

Cheers

Gus