PLV pluton resources limited

games continue, page-40

  1. 10,558 Posts.
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    This is my take on the events thus far:
    TH called as JV with another entity which had been flagged while weg was still had 50%. However, the issue that affects this restructure is WEG's marketting/sales agreement.
    Hence PLV now needs to re-negotiate with WEG.
    Now at this point we know that a restructure has been proposed and subsequent DD being reviwed by PLV. I would assume the proposal would incorporate WEG back into ownership of cockatoo or some other compensation (financial? ) to enable the JV to proceed.
    Seperately a debt/funding package has been organised with conditions needing to be fukfilked for the oackage to proceed. One would assume the condition is the restructure to be finakised. However, msybe it is a seperate issue altogether involving the cobfirmation of resources via drilking results. Both scenarios can be involved IMO.

    The outcome so far is Watcome has signed a contract for the next 2 indicating that cockatoo is still viable and operating.
    However the disturbing news is the md/ceo resigning during negotiations. This doesn't happen unless it was forced on him. While we understand his reasons the timing of his departure was outrageous.

    Now jesse is rightly aggrieved but i would advise to wait until all is revealed before criticising or commending. It is is sensible for PLV to be suspended as the SP would be decimated with this uncertainty and boardroom changes. The outcome could be anything and you have no option but to hold. My only concern is if all ofnthis falls through, what is the altenative for the funding? A CR? Is this why the suspension is ongoing to preserve whatever value the company has?
 
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