Chubbito & co, you appear to criticise PLV on the caution and conservative nature of their announcement, which you interpret to mean lack of confidence.
Look at Twiggy. He is in court because he said he had an agreement when he had an MOU. I'm sure that PLV announcements are vetted very carefully by their lawyers and I imagine that Tony may love to say this is the greatest deal Pluton has done, but he's not allowed to say that.
People knocked Mike Young when he gave away 50% of his project at BCI for rail access with Twiggy. Who is laughing now? He is a producer with a share price of $3. The rest all want to be producers.
PLV will now become a producer. That is where the value is. How else was PLV going to afford Cockatoo? By massive dilution?
Put simply, PLV would appear to be in the final stages of negotiating a deal that will potentially invest $70m into a company with a market cap of $50m, in exchange of 50% of a non core asset it didn't own a year ago!
PLV Price at posting:
21.2¢ Sentiment: Buy Disclosure: Held
