Trouble is Someone are now on the register. They could destroy PLV's shareprice.
Further destroy it that is.
Whats the chance that Someone and its 'associates' have been collecting shares in PLV for 'at least' 18 months? I recall HSBC getting some big movements going through about 18 months ago. Coincidence? An orchestrated long term strategy?
You be the judge.
The sell downs? The incredible cost blow outs? The even more incredible calculation of half the Irvine asset?
And they are not happy with the current terms?
THEY are the reason we are here. It was them who have caused the share price fall.
I have been heavily criticised at times for mentioning the SPP at 78 cents and the Mayala deal at 78 cents.
Soonafter Timeone get a 35.5 cent deal.
That deal for me set a precedent for reduced value of the company and an opportunity for Someone to completely undermine this company and its investment....further.
But they could only do that by getting an invitation to do it.
Tony and the management team now need to demonstrate they are in control and that they have real value here to negotiate with...and to proceed with or without Timeone and the so called SS&T 'deep pockets' brigade.
This is PLV D-Day. What transpires from here will determine the strength of leadership and the robust economics of the project(s)
It must be said that this is an incredible opportunity for Tony and the management team to completely take control of this and turn this around.
I still remain confident....and i'm still backing Tony and the team to come out of this better and stronger.
Now is not the time to throw cheap shots at the management team. Now is the time to expect them to show leadership and create shareholder value - and certainty.
Its time to shine. I think its a career defining moment for those involved.
Lets send the crew some Rocky Movies ;)
PLV Price at posting:
15.3¢ Sentiment: None Disclosure: Held
