comparisons and further questions, page-43

Hi folks

Overtures you certainly sound like you have much more knowledge on the subject than I do so I acknowledge your views as distinct possibilities based on your experience.

Your calculations on share issues for continued drilling seem fair enough.Don't think 40 cents would be the issue price though.As others have said here you just can't buy ANY shares at this level...let alone millions of them.

12 months ago a base price of 40 cents was set to issue shares. It was necessary.The company did the right thing to raise those dollars. It did however anchor the share price and really, it hasn't recovered from that.

'Another' 40 cent placement 12 months on and psychologically you devalue the company and what it has achieved. Perception counts in this market.

There is a resignation and acceptance here by some of us that share placements will be done at 40 cents and thats okay cos' its a long term investment.

From my perspective the biggest risk to my investment 'is' the share price. Too many say 'she'll be right mate'.

I disagree.

The company is building value. Value is demonstrated in a share price and market cap of a company. The market doesnt just switch off the share price up until a company produces...it steadily values the company higher according to what it has and where it is in the cycle.
Fact is PLV may be as close as 2 years off production.
Fact is the resource is much bigger than previously thought...or at least communicated to the market.
Its gone from what? 50 MT at 66% to not even half way through drilling to 150MT 66%.
Our 200MT 66% 'pie in the sky' target has gone from a pipe dream to a given.
The Isthmus area looks like a beauty.
Theres further upgrades on the way.
Who says someone will not step up and pay a premium for a project with Irvines clear comparative advantages?

PLV will have the green light to mine within 18 months with all approvals and agreements signed. The company recently stated their aim is to have environmental approval by March 2012. Thats the big one. That will be the last one as deals/offtake agreements and the like would most likely be done on the premise that these approvals would be granted....perhaps.

I don't see production 5 years out Overtures. If it was I would have invested elsewhere.

Tony hasn't posted/responded to questions here for good reason i'd suggest.

Fact is while posters like myself and others are hypothesising only PLV knows what is going on.

So lets get real shall we. The less shares PLV issue and the more they are able to place those shares means 'current shareholders' have a better chance of a better result...not just in the short term....but long term as well.

Once those shares are on the register they are staying there.

Clearly the Chinese are looking for Iron ore projects. Clearly Irvine is shaping up..even at this early stage as being a ripper. Lets see, no fuss with rail, or ports, or negotiations with other infrastructure users...oh and lets not leave out the considerably cheaper cost of operation in the hundreds of millions.

Don't tell me this project isnt attractive 'already' and by the month its getting moreso.
Ask Tony if he thinks this is just 'another junior IO'

Resource continues to grow. DSO continues to grow. Beneficiation will continue to increase economics of the project.
The economics of this project are constantly improving.

Lets hope the imminent placement for further drilling capital places a premium on the current share price and values this company where it rightfully should be....thats not below market value at throw-away 40 cent levels.

Just my thoughts.