Well.....Am I... Disappointed ? Yes I am disappointed that we...

Well.....



Am I... Disappointed ? Yes I am disappointed that we are in this situation. Now it is up to management to act. To act to keep the company going, at the same time keep dilution to a minimum. A tough ask.

Am I... Feeling let down? Yes I am feeling let down. We were led to believe that we would get Cockatoo, pay the environmental bond, pay the seawall while digging, so pay the seawall from cash flow. Make excess cash, pay for ongoing mining and expansions from that cash flow. A further raising was way off in the distance. Maybe for the offshore seawall, then maybe underground. The presentation was short on detail, that the market needs, hence the sell down.


Am I... Confused? Yes, how we got to this place is still a mystery... We all know playing in the big league with the chinese is fraught with danger. Sure we knew that we would need to raise but so soon... what is this raising needed for ?? We already have the presales plus the debt funding that turned into presales.


Am I... Angry, no. Life is too short to have baggage, I will just drown it in Corona.

Am I... Confident? No, at best we will now be highly diluted, which was one of PLV's strong points. Not many shares on issue. That will not be the case in the future, I believe. Unless something can be sorted, not sure how much of the existing ore should be presold... above 80% would not be wise.


Am I... Going to hold? Yes, I believe if we can get through the next 12 months, shipping 3 maybe 4 ships per month. The price of iron ore and the A$ moves in our favour, that PLV will survive. I think we will see more downward movement in the $A. If not it will all go to custard and I will have nobody to blame but myself. That will not take long as I tend to forgive myself quite quickly.

Am I... Buying? Yes, I have been a buyer of a six figure amount the last few days in the low 9's and low 6's. I am done for now. If there is an SPP, I will take my full entitlement.

Am I... Going to be ok? Yes, I am lucky that a total loss in PLV will not disrupt my future. I have made some very lucky choices in my life. I know people are hurting from this and feel for them.



Am I... Going to pay the bet with hOOt.. yes, I will sort it in the next week. What was the name of the charity?



Cheers ..