plv valuation by my calc, page-28

Hi SuperTim,

The ore for the 1mt sells at market at time of ship loading less a very small commission. Can't advise how much but lets say it is around the current RBA rate. Very cheap finance for the $20m. First shipment towards the 1mt will leave in February.

We have been in contact with many borkers, plenty who haven't followed Pluton before, and yes they want to see the bonds lodged and our first shiupment leave... this proves we can do it, and proves Wise is as good as we say they are. JPM is not a big concern to them, they realise they don't have a large amount left.

Cheers, Tony.