A positive sign that the financing was fully subscribed to, including the over allotment.

$12 million raised to fund company projects that are not paid for by BHP. If BHP does not exercise its right to earn an extra 7% at Chidliak, then these funds will help PGD fulfill its obligations.

It has been explained to me by company IR, that if BHP does not exercise its right, it does not necessarily mean they are not positive on the Chidliak project. The extra 7% would mean nothing to them, if they expect to eventually buyout PGD.

In other words, if BHP does exercise its option, then this is probably a very good sign, but if they don't, it may not be a bad sign.

Good luck all.

C.