a theory

PLV knew that they would need to do a capital raising soon.

They thought that news on a deal with a JTC would ramp up the share price and they could raise capital at an attractive share price. However, the deal with the JTC was still in the early stages and hence why the JTC did not want to be disclosed and why it was a non- binding MOU. But PLV decided to rush it anyway.

Secrecy always bothers the share market - hence PLV tanks.

End result is that PLV will probably be raising cash at a much lower price than would be the case if they had not announced the MOU with the JTC.