my plv model, page-15

The maths behind your model seem solid enough, and people can tweak slightly for differing opinions with forex etc.

Its the application that is possible unrealistic. If it was simple to find $700mil at 7% dont you think Tony would have by now?

Also unfair to expect someone to take all the risk($700mil) and earn 7%, whilst you predict shareholders will return 48%.

Anyone that contributes that much funding would end up owning PLV.

Not sure if you were trying to say they get a free 20%(JV) as an incentive for providing the funds, but I think it would be more like 50%.