Now those are great questions. You saw today the sell off and PLV was down 15 cents (albeit on small volume).
To be honest I think the shareprice will be governed by what we do on Irvine in the short/medium term. We start drilling in Tasmania this week but we wont get results for a while. It is going to take some time before anyone knows what Tassy is worth for PLV.
You really have to look at what product we will produce from irvine Island. Irvine is high grade (highest in the world), low impurity iron ore.
This type of product will be the LAST one dropped by the Chinese or the Japanese... it is the low grade, high impurity ores that will be dropped first. Irvine ore will be a blending stock.... that is, needed when any iron ore is purchased. Of course, in a depressed market the price will be lower.... but our ore has no need for railway and the shiploader is only apx. 10 meters off the island into a deep cahannel that also looks after Cockatoo and Koolan Islands. This will be a very low cost operation.
ghazwan, it would be easy for me to ramp my stock.... the facts are that China and japan will need ore.... we are close to the most nothern port to Asia, with the highest grade, lowest impurity ore in the world. We have no logistics cost, therefore our profit margins are huge....
In a US recession world we are a billion $ company (providing we find the tonnes! DYOR). Outside that we will be a mid-tier mining company valued +$2billion IMHO.
hope this helps, regards, Tony.
PLV Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
