positive outlook, page-16

Hi mtl999

Good question.

There are any number of ways you can look at that. Many posters here are much better placed perhaps to answer this than I am...but heres my take:

In my opinion the last SPP to existing shareholders clearly demonstrated the valuation.
The issue of shares to the Mayala people clearly demonstrated the valuation.

The company would not have issued shares to its very own shareholders and the Mayala people 'above' value would it?

It was assumed this was well and truly 'good value' was it not? Therefore we can assume the company would be offering its 'people' good value for money.

I dont think the Mayala or those who participated in the SPP would agree that 'after' a financial backer had been secured and with further developments regarding the potential acquisition of Cockatoo Island, would mean that the added value of that would mean their shares were worth 35.5 cents?

Would you?

This is what I mean when I say 'disconnect' the divide between the SPP/Mayala deal and Timeones allocation is considerably different...its a Grand Canyon like divide.

That said, it must also be acknowledged that PLV chose Timeone based on any number of criteria and advantages (some we would not know perhaps) so on the share price alone it is hard to value timeones 35 cent allocation.

However..

The independent report seemed to think it was a lot in Timeones favour didn't it? Thats an objective view.

That would lead some to say that the PLV valuation is clearly well above 35 cents.

Trouble is we are trading well below that 35 cent mark...the share price differential has been further exacerbated and compromised.

Did the PFS damage the 'perception' of the valuation? Thats the question.
If thats so how have we fared since then in managing that?

As a shareholder I am uncomfortable with the eagerness by many to accept this enormous share price drop...and to somehow start assuming much lower valuations due to that drop.

This isn't 2 up here. PLV was valued by some analysts well above $1 a share...in some cases multiples of that.

I've just given you any number of criteria you can look at and check for yourself.

A company that has continued to make developments and move closer to production should not be valued multiples lower than where it was before these developments/deals/potential acquisitions took or take place ...agreed?

Even after the PFS and the surprise hit, the resource didn't disappear....it just kept growing....

With the probable acquition of cockatoo it will keep growing....

With Cockatoo the production profile has been further raised and 'potential' additional benefits appear to be there.

Story keeps getting better...the share price doesn't..

Why is that?

Its that disconnect i'm talking about....why is it happening, how is it happening, how can it be managed?

Fair questions I would have thought.