what absolute rubbish, page-9

Not sure I agree. I would have thought Tony would have been very informed as to what the JTC were looking for in the PFS, which is why the PFS did not initially cause me any concern as an investor. The switch to a "pre-concentration" and upgrade in Asia made a lot of sense and I thought this was driven by the JTC ("to the standards determined by the JTC").

Tony has also mentioned that the potential JV groups are aware of the capex and have no issues supporting the above comment. If you are now saying the opex is a concern (which Tony has not advised on) well we are then back to square one and we might as well forget about the PFS and start again.

Initially the agreement was get the PFS out and negotiate the deal with the JTC after that. This should be the number one focus. Previous information had the deal struck within 30 days after the release of the JTC.

"Pluton and the JTC have agreed to use all reasonable endeavours to finalise an agreement within 30 days of the completion of the Irvine Island Pre-feasibility Study to a standard determined by the JTC, and the commencement of a detailed feasibility study."

PFS released on 6 June 2011, more than 30 days ago and no advice from PLV on potential deliverable dates.