Wow this article got my blood boiling.Agree with most recent...

Wow this article got my blood boiling.

Agree with most recent posters PLV has upside. Of course it does given the current SP it couldnt be any lower based on whats on the table.

It is very clear from posts on this stock we are split into 2 camps. The new entrants and the long termers. New entrants would be pretty happy to date and long termers left wondering where it all went wrong along with some sizable paper losses.

I do not prescribe to the "Tony is a genius locking in funding during uncertain economic times". TS had a very long time to choose a partner and management decided on this course of action and it was dumb luck that the deal was preceded by a minor economic meltdown IMO.

In moving forward i think there is plenty of upside if things go well and i hope they do. At the same time management from my perspective have shown the following:

No real concern in protecting share holder value;
Do not meet timelines they advise to the market;
Make extremely positive statements and in reality they are followed up with results that do not match and well below.

What are peoples thoughts on how much more of the company will be handed over to Timeone? They got 30% for $30m so what will they get if the come on as the JV????

A few things i note from the Highgrade article:

'Schoer indicated to HighGrade that institutional shareholders of Pluton could see the rationale for the deal, whereas some retail shareholders were unhappy.'

Of course the institutions are ok they got in around the levels we currently see. Some retail shareholders are unhappy yeah the long terms who have supported the company and your wage for the last few years how insulting and further proof he has no idea of maintaining the value of the SP nor cares. Might be more interested in the end game and fair enough but does he care about what happens in between?

'Schoer was maintaining this week that all indications prior to the formal pre-feasibilty results in June had been for a project costing in the order of $A350 million. He pointed out that the plant ? comprising $A470 million of the total $A700 million ? costed in the pre-feasibility was to be built in Australia, whereas ?in reality? that would be done in Asia/China.
Asked why this ?reality? wasn?t factored into the pre-feasibility Schoer responded: ?Well I guess we are only a small team, we?re not engineers, we had Calibre do the work and they are the numbers they came back with ... and presumably in a prefeasibility study that?s what they do.?'

"Well i guess we are only a small team" Are you serious. If you make claims back them up dont dodge the question and provide a copout response like that! Really worries me that this is the response to such a critical oversight - what other oversights could come up which are the result of the small team not being able to realise. Good leaders take responsibility and dont blame the size of the company. Seems to claim ignorance around the PFS and would expect he had done some more homework on this one??

'Schoer also points to a significant increase in mine life as reflecting the upside for Pluton shareholders.'

We all know that and its deflecting from the question surrounding the PFS considerations.

'I think [critics] are missing the point, it is not really the $30 million Timeone is putting in [that is key], it is the fact that they will be a joint venture partner and they are the ones capable of beneficiating our product in China,? he said.
?That is where the value is.'

So they are coming on board it appears - what level of dilution will that be at i ask??

I think that in the long term if this project gets up we could see some serious returns. I think all must be aware that given managements performance getting there may prove a very rocky road with a few hit and runs along the way.

I think a lot of long termers believed management would protect the share price and we would see steady growth with spikes upwards at milestones. We now know this is not the case and i think the share is not for the faint hearted. I also think you can put too much worth in managements claims based on past experience as that is all we have!

I am crossing my fingers we see a positive end to the year with considerable progress along the way.

Good luck all and hang in there.