Bill, No phone call either. At the price PKO is trading I think...

Bill,

No phone call either.

At the price PKO is trading I think OXX will be underwriting the majority of the raising. This may turnout be to be a positive for the offer price of the remaining shares as OXX will have to convert less shares at the price they agree too, so may be willing to offer more.

IMO The merger price may be around 1.7 c based on Albers placements at 1.5 and 2c. I can only assume that he would want his investment back or he wouldn't be party to the merger. Also company has net asset backing at 2.4 per share so if directors are to be seen to be acting in the best interests of SH the offer would have to be in the region of this.

Further to this with the OXX SP at current low levels PKO holders will be issued more shares for further gains once OXX SP turns upwards again.

I guess we will have to wait and see.