12mt jorc, page-5

It is the real kicker.

12m tonnes is close to $1bn+ in revenue and at a production of a couple of tonnes a year should really bring in the cash.

Once this is spruked to the brokers, interest in PLV will hopefully come back and the SP will move accordingly.

I have to say, revenue from 12mtn is huge. It should provide a chunk of the:

- drilling required to investigate the 120mt previously advised that may exist on Cockatoo

- remaining financing of operations to get Irvine underway (including DFS, enviro, operational costs etc)

- small chunk of capital towards financing for irvine - which means greater chance for PLV to go alone rather than with a JV partner!

Thats is the bigger picture for me, JV partner for the small project to bring in the cash, then go it alone for the bigger project.

I assume now that the ace that Tony had up his sleave is this additional 10.8m tonnes.

Losing Timeone MAY have been the best thing that could have happened for PLV.....we shall see.