Hi guys,I am free for a dialogue if you would like to ask any...

Hi guys,

I am free for a dialogue if you would like to ask any questions about the capital raising, the upcoming SPP or the drilling program on Irvine, where we mobilise for an 8,000 metre diamond drill program in 2-3 weeks.

It has been a tough month for PLV, I admit that. We have gone backwards while other iron ore hopefuls have gone forwards. we did our best getting overseas parties over the line in the time available for a premium to the SP of the day. We didn't get them there in time and that is the end of the matter.

In hindsight we may have been better to write them off early and raise capital early on. Based on what we asked it was worth the risk. There was no way that I was going to give a large slice of the company up (and therefore some control) without these parties paying for the priviledge. We could have, we didn't.

We always had a fall back position and that is what you see today. Not ideal given the share price, however if we did not raise money now we would have to wait another 5 months to get onto Irvine. We can drill in the wet season but we have to mobilise in the dry season. this is due to safety concerns. The share price was not helped by a large holder exiting PLV, for their own reasons, into the market at the time of setting the bid price. ubfortunately that is life.

I sincerely apologise for the uncertainty that this capital raising has produced, however, as I said above, we will not give control to other entities without them paying for it.

I can tell you that the capital raising has bought some very large funds onto our register, and the placement closed early and oversubscribed.. In fact for the size of the company we are, we now have some of the best names both domestic and overseas now on our register. This gives the company a great deal of flexibility when we next need to raise cash which will be a long time from today.

Yes you have been diluted, yes the raising was at a low price, however if you do the numbers we have doubled the asset size of Irvive without doubling the shares on issue. On top of this we have $20 odd million in the bank to get the resource size up to 130-200mt. Look at what a Pilbara junior is worth with 130-200mt and no rail. Compare that to Irvine.

I have, of course, read the threads while I couldn't post. There has been a lot of support, some fair critism and some confusion. The buck stops with me and that is what I get paid for.

One thing I will not do is get into an argument on my salary. As shareholders you have a right to question what I get paid. What you DO NOT have to right to do is to get personal and call me and my team "overpaid monkeys". I talk to you on HC because I find this a great forum to communicate with retail holders. That does NOT give you the right to abuse me. Ask fair questions and raise fair criticism if you want a reply.

For the last time I post this: My salary is decided by the Board. I do not participate in the discussions. the Board sets executive pay on recommendations by third party remuneration experts. These recommendations are reviewed by another third party remuneration expert. our salaries are set with no short or long tem incentives. End of story. If you don't like it talk to the Board by sending a message via www.plutonresources.com I will make sure it is passed onto the Chairman. I will not engage in discussions on my salary.

Ok, if you have any questions fire away. you have all seen the presentations I made to instos and the AGM.

Cheers guys, Tony.