Yes mm55mm as per my last post i think the market is very sceptical about what will REALLY transpire with PLV with regard to resource/costs to produce io and the deal done at the end of the day and not what guidance is given and expectations provided by management.
Buddy134 i agree it is good to see all is progressing well with Cockatoo but it doesnt really mean much as the devil is in the detail.
I personally wouldnt read much into the fact the Chinese havent pulled out and at what levels are they now negotiating at. Not long ago we were all moaning about 35c placement to Timeone now that seems like a high price - its scary how much shareholders expectations are continually downgraded. How do we not know that Timeone might be doing something about limiting the premium paid and very well could stump up the $30mil gain a 30% share in the company walk away from a JV finance deal which would cripple PLV in the short term and then consume PLV on the open market to allow a full takeover at bargain basement prices - is this not possible. I hope i am wrong but i think in the current climate Timeone would hold all the bargaining power as i don’t think many suitors sit behind Timeone waiting for their turn based on the agreement struck a few months back.
I just think we need to remember Timeone is a business and they will go for the best option for them not shareholders or anyone else.
Finally would love to hear any feedback/thoughts around when we could expect to hear something regarding a JV funding etc for the project – early next year? This is the make or break and once this is decided i think the fate of PLV will be decided along with the likely guide as to what PLV is worth on the market in the short to medium term.
I fear we wont be seeing the SP above 30c by the end of 2011 without a definitive announcement around project funding which seems unlikely but would love to be proved wrong.
PLV Price at posting:
19.4¢ Sentiment: None Disclosure: Held
