I will make 2 comments:
1. Timeone are not necessarily struggling to raise 20 million. The announcement suggested that the shareholders of Timeone are squabbling about the details of the structure of their company, who needs to organise what, contracts, legalities or some such issue. Presumably there are various players, each of whom are bringing something to the table. I imagine that somebody has contacts with the port owners and maybe somebody else has contacts in banking and perhaps somebody else has contacts in manufacturing. I imagine they are negotiating over whose bringing the greatest value and who will be entitled to what share of the pie. Not making excuses, they've made themselves look like clowns to PLV and it's other shareholders.
2. I have no doubt that the market doesn't understand PLVs resource. Any idiot can invest in DSO. It is a no brainer, provided you have transportation and port access. However, DSO is the low hanging fruit and is running out. Cockatoo is case in point. PLV may not have much DSO, but they have a valuable product with a big profit margin. Broker reports and a roadshow are valuable exercises to educate the investment community about the possibilities beyond DSO.
Pleased to see the price stand up to the crappy news of yesterday. Let's see what April brings.
Stats.
PLV Price at posting:
21.2¢ Sentiment: Buy Disclosure: Held
