... and I will post one more thing thing before I jump off the soap box.....
You put yourself into this position....
90 minutes before an EGM to finalise the purchase of Cockatoo your partner illegaly pulls out. You have to sign up for the purchase of Coackatoo at 2pm, and you can't do it. You have no money because you refused to do a dilutive capital raising because you have every legal right to assume $12.66 million is coming in the next day.
What would you armchair experts do? (not addrssed to the masses)
I am going to name a few people here who expected to work without pay to turn the company around. It is not the full list but gives you an idea of who was involoved. These are real poeople who worked on many days for 20 hours a day non stop for weeks.
Brett Clark, COO.... absolutely tireless and the obvious next MD of Pluton, spent more time on planes than on the ground.
Reece Power, GM commercial, not only managed our cashflow to keep us in business but provided valuable input into new deals.
Johari Bin Demin, Indigenous employee in chage of Broome office. This guy had to handle all sorts of rumours with Mayala on Pluton being a going concern and keep our indigenous guys gainfully employed while we had no money.
Anson Griffith, Project Mangaer Irvine/Cockatoo, had to work 48 hours without a break to provide technical information to potential partners to get them interested in Cockatoo. Young family who didnt see him for some time. Tireless.
Gilbert and Tobin legal team in Perth. Many many hours giving legal advice keepoing us in the game plus 43 leagal agreemets to get Cockatoo signed off.
All the other staff..... never once complained and all would have been happy not to be paid, took up the slack while the rest of us got the job done.
Pluton Board.... these guys get paid a pittance and risk their own reputations and assets. Board phone calls and meetings nearly every night for two months.
Yep, you can say this is what we pay you to do etc..... thats not correct. No Company that I know of is thrown this type of curve ball and survived, let alone still done the deal and come out better than shareholders expected.
As I have always said I am happy for you to be critical of me but to make suggestions of "sloppy due diligence"is not only factually incorrect it is also an insult to the peopel who didn't curl up into the feotel position when it all became too hard.
Mining in 2 weeks for the believers, the rest of you can get stuffed :)
Cheers, Tony.
PLV Price at posting:
15.3¢ Sentiment: LT Buy Disclosure: Held
