Insight into PLS and MIN, page-2

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27/07/16

16:47

Post #: 18380551
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Originally posted by Wombat2 ↑

Hi Folks
First of all just a simple request for those of us who would like to read all posts on a daily basis. Unless you have something really important and really valuable to say DONT post at all. Wading through 200 or 300 posts for the odd nugget of information is very time consuming. I would say that today there would be lucky to be 15 posts worth reading. The flood of over 300 posts yesterday and the day before possibly does more to unsettle shareholders. Sink or swim wrote a good post recently pleading for some of the threads to cease or stick to the facts. Please just cut the crap that adds no value.

On that subject I received an extract of an email that a friend of mine received today in which they talk about a phone call to HO today and I thought that it was worth sharing with everyone. Dont know who the author was for sure but it is a good read and may calm a few unsteady nerves you may have.

"Business as usual from PLS perspective. They have fulfilled their obligations to GAM by providing the necessary information. Apparently GAM have passed this on to MIN. It appears that MIN don't believe how good the pricing is and want more information.
According to the legal people they are not getting any, as what had to be given to GAM has been given.
The clock is still ticking unless stopped by a judge.

If MIN can get a ruling in their favour then they have to match ALL the conditions or take 2.5% royalty ( the processing plant JV in Asia is PART of the offtake agreement), so is subscribing for 5% of the shares in PLS.

The ROFR applies to both the TA and Li, that was the spirit of the agreement.

If/when we do another deal then GAM get ROFR over it again. PLS HO were very clear that if the first BOA was matched and taken by GAM/MIN then the company and GLC are fully prepared to do another deal straight away, and pretty much keep doing deals. All that would happen is that we would reach a larger output faster, and get to the increased plant size of 4Mt/a much faster than intended.
The company has not been notified by GAM of any change, so according to the agreement with GAM we are doing everything legally necessary via that original agreement."

Please keep in mind that this legal process has some way to run and nothing in the way of outcomes is certain at this stage.
Chrs W2

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Thanks Wombat , that all makes good sense . Won't need my sleeping medication tonight.

PLS Price at posting: 49.0¢ Sentiment: Buy Disclosure: Held
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