get rid of them, page-117

Satori,

PLv floated at 20c in 2006 having raised $10 million in cash. I was a holder from 2007 and have followed this story since the share price once hit $2.30+.

A few points:

To date PLV have raised over $50 million in capital and what value do shareholders have to show for it?

$50 million burned on exploration and salaries and where is the value creation or return on investment?

It is managements responsibly to create value for shareholders/owners in any 'for profit' venture. In this instance the Tony might be a good salesman and adept at raising capital but runs on the board is what counts, not excuses, ie 'we miscalculated the PFS numbers... whoops.'

Steve Jobs gave employees a little speech when they were promoted to Executive Vice President at Apple.

Jobs tells the new executive that if the garbage in his office is not being emptied the previous day for some reason, he would ask the cleaner what the problem was. The cleaner could reasonably respond by saying, "Well, the lock on the door was changed, and I couldn't get a key."

"When you're the cleaner, reasons matter, but somewhere between the cleaner and the CEO, reasons stop mattering,"

In other words, you have no excuses for failure when you're at the head and leader of a company. Your job is to generate a return for the owners of that company and excuses stop mattering.