97m to 98 m, page-34

Supertim

Honestly (forget your investment for a monent), have a look at the history of plv and its associations/transactions/operations (whatever we want to call it). Can the word "if" be used with any confidence. Have a careful read of the memorandum - it leaves minimal confidence that such a transaction will actually eventuate especially in plv's favour. In good faith - who would have faith in an investor/partner who has been involved in more dramas than those sleazy us soapies! Furthermore the IO market is very bearish with oversupply being an issue. This makes plv's ability to attract credit unattractive. That is why I can't criticise management for the CR - they IMO had no alternative. From the outset plv's path was set in the doomed pfs. They have done their best in a sinking ship. Now the story is cockatoo but due to an inability to access finance other modes were resorted to. I remember the cockatoo cash projects by the loyalists on this forum and stating that cockatoo will pay its way. Referring to its producer status and low shares on the registry. What now?