a apology to shareholders from tony schoer

Dear all,

The past few days have been very trying for the company. I have spoken at length with the journalist who wrote the recent articles, and we both agree that Ray Schoer has not been an inside trader. We do however both agree that Pluton's Corporate Governance statements should have been, at the very least, more transperant, ie: on the website! and current!. Age old story...PLV has only 2 employees...10 bagger....too busy.... this is my fault not my fathers. Naive title, gotta create shareholder value....etc..etc....

the fact is, Sturt Washington is right. I should have, at the very least, employed someone to do the task if I had no time. Hindsight is wonderful, my father who has probably been the greatest corporate regulator this country has ever seen, has been let down by the company.

You guys do not understand the hurt my mother has gone through to read the stories about my father. It is enough to make me cry, my mum is special to me. My dad is a legend in this country for looking after you, the retail investor. He always has been a battler for the little guy.

Ray, as a non-executive director, buys shares in PLV to support the comapny and to show to shareholders that he has total belief in the company. He has never sold a share and will continue to buy. he has bought shares at every level up to around $2.50 (maybe a little less?). He has never sold a share. He is one of PLV's graetest assets. To live the last few days knowing that if I had taken the time to finalise corporate stuff...

The Pluton website is now up to date...thank God for that!

I Have no excuse except to say I was too busy with native title, Tassy stuff etc... to actually do what the Board requested I do. This is no excuse...but I simply forgot about it.

I want to state here that I really appreciate what people have posted. Not just the good stuff, but those that said PLV should have done it better, because we should have. It is very hard for an exploration company like Pluton to live up to the trading standards of a BHP. Our Policy was just wrong, it was BHP standard...too hard.

Thank you all for what you have written. Our approved policy (the one contemplated in February 2007) is now on the webste on www.plutonresources.com

My sincere apologies for the distress caused to shareholders.

Pecora, yes it was me that TOU'ed you. No problems with me mate, all posters should take this as an example of being careful that you don't defame someone.

Hopefully now I can concentrate on operational issues.

kind regards, Tony.