If PLV had information that was market sensitive they need to release it to the market. Even if a package of information is not complete yet, an indication of capex and opex substantially exceeding market expectations needs to be communicated to the market even if in a general sense and not by way of exact figures.
A reasonable person would question: if there was sufficient certainty in the capex and opex figures (ie, draft PFS results) to release them to potenntial investors, why was there insufficent reason to release to the market, even as an indicative range, the approximate expected quantum of overrun compared to that expected by the market?
Failure to correct the market's view on the expected outcome of a market sensitive event, where the market's view substantially differs from that which is likely, and where the company is in a position to correct that market view, even if indicatively, is misleading the market.
A class action may have good grounds.
PLV Price at posting:
29.7¢ Sentiment: Hold Disclosure: Held
