Ann: Update on settlement with Rizhao, PLV 44 and Silver Fir, page-24

this is why it smells buddy..

"Pluton said yesterday it was still pursuing Singapore-based Silver Fir, a company associated with Pluton director Sal Catalano, for payment for a shipment of ore delivered to China last month."

Clearly he has answers to give, as for WISE they have only been getting the 3% sales and marketing only for ships to Rizhao since April this year, with Rizhao tearing up the pre-sales agreement i doubt they will earn a cracker from now on..

How did we allow Wise to ride shotgun over this company for last 2 years is only something the previous managements can answer, i shudder to think of the reasosns why..

Wise were linked to Rizhao but Rizhao has now ended any dispute with PLV, it was obvious Wise were involved in the receivers being called by Rizhao (as stated by PLV), how could Rizhao put PLV into receivership when it doesn't owe Rizhao any money the JV does!! Of which Wise owes Rizhao the other 50%, you cant make this stuff up!

I would hope those receivers are chased by mgmt as GNR were not even consulted as first secured creditor, the whole thing is amateur hour but at least this one wasn't PLV mgmt's stuff up.

So i do believe the Wise issue is currently being sorted once and for all, there was no mention of them at all in the last announcement so alot more stuff to shake out for sure.. sit back and enjoy the show!