comparisons and further questions, page-6

Hi Overtures

Cash raising isn't an issue as you would know. From what Tony has indicated on a number of occasions the cash is there when they want it.
Its 'how' we get it and what it costs I guess is, as you say, the key point here.

PLV clearly have held off on doing 'deals' so for me at least if anything, thats a sign they want to build value. Its a positive sign management are discerning and focused on better outcomes for shareholders.
This is a massive tick for them.
How would we feel as shareholders if PLV had 'done the deals pre June 2010 eh?

I'm suggesting there would be calls to rightfully remove management for underselling the resource.

Current share price issues/placements may indeed really hold us back....as evidenced by the 40 cent issue 12 months ago.
However with ongoing developments this may be far too simplistic and dismissive of the inevitable market valuation that would be applied to PLV with the resource expanding in multiples.

PLV may very well go to shareholders/market shortly to get the necessary $$$ (not to be confused with additional unnecessary $$$ and further unnecessary dilution as a result of that) to further add value re further developing the drilling campaign.
It would be hard to criticise management if they decided to do a placement with that intention as it would be necessary.

As we get closer to these timelines and decisions the share price will be very important. It determines the value attributed to the company. It determines the number of (if any) shares issued.

Of course Tony has stated a number of times that the 'intention' is to minimise share dilution. That off take agreements may be the way to go....and is open to what deals may take place.
By the week i'd say his negotiation power increases...why would you deal early when you have a gut feel the resource will increase substantially?

To this point, share price disappointment aside, PLV appears to be on a confident course towards production in 2012.

Its hard to fault PLV on what they have achieved and the benchmarks they are setting regarding environmental processes, shareholder relations and increasing the resource.
We just witnessed 'again' today a further upgrade to what 'may' be (as the company stated)a 150MT resource at 66%.
That 'again' exceeds what the market was expecting.

The recent reaction by the MD here on HC to a poster questioning the indigenous relationship with the company I think clearly shows how confident he is in the relationships he and the company has with the Mayala people.

I also think it is a clear indicator that he is very confident in all aspects of the operation and the inevitable production that will happen at Irvine.

Somehow though, inbetween all this good news and confidence we need catalysts for market appreciation and share price to reflect that.

Today we get an EXCELLENT announcement backed up with concise commentary that clearly states a total inferred estimate of 452 MT - a 54% increase.

This is on top of the 450% upgrade to the resource in June.

Expect Isthmus results to add to this further.

The 200MT target at 66% is now not only achievable..based on todays 150MT at 66% results...and near half way through the drilling campaign...its inevitable.

We are getting closer....

Just where are we getting re adequate valuations?

Investec/Austock based their recent valuations did they not on around 100MT at 66%?

Interesting next few months.

Agree Tricass the sooner agreement is reached with the Mayala the sooner the market gets another key component signed off.