questions 1st june 2012, page-36

satori asks:

""=A few questions Tony:

Upcoming broker reports - do they include updates from current brokers following PLV like Intersuisse for example?

When can we expect these broker reports to be available?

If there is additional IO tonnages on Cockatoo, when will we get an indication that this is the case?

I recall somewhere a statement saying drilling starting August?

Is PLV confident that Cockatoo is substantially undervalued/devalued and when do you think this will become evident?

and...are the Tigers starting to hit their straps about the same time PLV is? ;)"

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My reply:

I am aware of at least 3 broker reports being written/updated to include Cockatoo. One is a new report that smaller brokers, who don't have their own research teams, use to update their clients. I expect the reports will be completed in time for our road shows in late July/early August.

I will talk about Cockatoo upside after we close the deal. You should see plenty of information in the road show presentations that will be released via ASX announcements.

We have a big program lined up for Cockatoo including drilling as soon as we are able to do it. This means getting access first. We have alreadsy started sereral studies where we didn't need access.

I have very high hopes for Cockatoo but again I really can't elaberate on this until we own the asset.

Tigers are on fire as they are finally kicking goals, something we have started to do but need to cement our position over the next month or so. :)

Cheers, Tony.