update, page-8

SAS1

Good to see some of those questions raised. Timely too. Yes there will be lots of positives i'm sure.

With an AGM in a couple of days there is an opportunity to get some answers/further clarification on some key developments/questions.

SAS1 raises Native title. Its perhaps the only key development that has not been given a timeline/timeframe that I am aware of.
I think the AGM is an opportunity for the Board to clarify this further.
We know PLV is very confident of securing an agreement. But unlike other criteria with timelines attached, this one has not been.
The company should communicate the 'why' of this.
I'm certainly not saying theres anything untoward or wrong here at all...far, far from it. I am saying shareholders..and the market...would benefit from it...and its the right and transparent thing to do here.
It would make the investment clearer and the Mayala relationship clearer.

SAS1 you raise the $$$ on hand. Clearly thats enough to get PLV to the JTC or other parties deals.

My question would be, particularly as we have seen recent IO spot prices hit around $170 T (twice the assumed $83T Intersuisse valuation model I might add) is how is the company now looking at a debt component/dilution ratio?

Surely debt must be looking particularly attractive now as the payback times will be so much shorter with higher IO prices.
Of course we are not producing 'now' but the current prices are a guide to present/current value.

SAS1 you mention the capital raisings and your concerns there. Money has to be raised. Its a fact. Its easy to criticise from afar without knowing the inner sanctums thoughts or the longer view perhaps.
I agree with your comments re the most recent cap raising. From 90 cents (albeit it must be remembered a brief visitation) to 60 cents and an oversubscribed 57 cent placement is worth raising I would have thought.

I say this because its been a well documented belief/assumption by many (broker reports support that view) that PLV is undervalued.
Oversubscribed 57 cent placements don't help imo.
It also doesn't help when recent highs may be explained away as market over reaction and expectation on announcements.
That devalues the company and what it has, and is achieving, and undermines the growing value of the company.

So perhaps the AGM is an opportunity to question the Board on how they see the company valuation. If they saw 57 cents as being too cheap.
The market certainly did as it was oversubscribed.

We should also look historically at PLV; where the company 'was' and where it is 'now' and whether 'historical valations' can in anyway be measured to the company and the resource that it has now.
The massive increases to resource in 2010...and still increasing.
The comparative advantages to other juniors with cheap infrastructure and early production possibilities.
Add to that competent management team, outstanding enviro record/awards to date, continued "strong interest" from third parties, A major JTC MOU onboard, current beneficiation trials considered to be "excellent" by the MD in terms of progress to date, and you start getting a pretty good picture of a company on the brink of some exciting developments.

So would be good to see the Board comment on the current valuation, the Intersuisse valuations, and whether they agree/disagree with those assumptions.

Should be a great AGM.