Ann: Quarterly Activities & Cashflow Report Sept , page-19

re: Ann: Quarterly Activities & Cashflow Repo... Hi Buddy

Sorry to say but I have a PLV broken heart. So much hope and potential ...dashed.
And what can we look forward to? More hope and potential.

I don't enthusiastically look at the number or the detail as close as I used to. I don't ask the questions I used to.

PLV will be doomed to mediocrity unless it can economically achieve 3-4 Million tonne P/A sales. Cockatoo alone or with Irvine. I think that is the only thing that matters.

The stage 4 seawall wont do it. We could be 4-5 years away from volume output if it can be done at all. Maybe 4-5 years is OK but it has already been 4-5 years for many of us, and we are bleeding badly.

I don't mind the dilution but prefer it didn't happen. I even remember Tony saying he would not let it happen. We were told PLV could get funding other ways. Companies were lining up to be involved.

They are spending a LOT of money but maybe they have to. It can't be cheap. I do trust they think about those matters very carefully, but I'm also sure they well and truly look after themselves and don't go wanting as individuals.

Who knows, maybe something may happen that would ignite a new PLV spark in me. That would be good.