Supertim do you really think 100% of Cockatoo is more risk that a 50% shareholding with WEG?
More value to PLV and shareholders. Its a win big time. Bad associations don't reduce risk - they magnify it on so many levels.
Who honestly believed these associates were professional or able to produce the goods? NOT MANY!
The bigger risk was having any association to these people. Reputable brokers might just have a sigh of relief now that they can do their numbers knowing these pretenders and time wasters are 'perhaps' out of the picture.
PLV credibility was damaged once these associates moved in and failed to deliver on what was an opportunistic deal to begin with.
The last straw for me was hearing two 'replacements' turned up to the AGM in place of the new addition who would have been attending their first AGM.
No commitment, accountability or professionalism. Just tactics. Poor form.
I still wait and hope that we see some very strong language and leadership here going into 2013. The company needs it.
A lot of damage has been done - it needs to be addressed and fixed.
The sooner the drilling starts the better, and as someone else stated, maybe some revised figures on a broker report or 2 to be done.
And the passmark for me as a long term shareholder is not $1+...for now at least. As we all acknowledge times have changed.
Its 50 cents at a bare minimum....much to do.
Lets hope the new associations are with well known professional players who demonstrate sound business ethics and respect. Todays announcement was a step in the right direction.
Its time to put the foot down and repair the damage done.
PLV Price at posting:
20.7¢ Sentiment: None Disclosure: Held
