in tony we trust, page-17

"I wont be suprised if PLV sell the Cockatoo deal to SS&T for a couple of mil $, since we have no way (at this stage - according to me) to self finance and complete "

Phantom - I agree with pretty much everything you said in your post - but to sell Cockatoo to SS @ T would be madness.

PLV want the Cockatoo infrastructure for Irvine - Irvine was the main game but focus shifted to cockatoo after the Capex blowout and subsequent share price decimation

Correct me if I am wrong but cliffs just want someone to take up the cleanup of their hands - we now know that cost is $20m for the enviro bond - PLV got some cash from Timeone in April for 2 part payments of tranche 4 to take them to 19.9%

Somehow I think PLV have to get $25m in the bank - $20m to do the deal with Cliffs and say $5m working capital to buy them enough time to get a new partner on board - The cash flow from Cockatoo would have to wait.

These guys have shown their true colours and there is no way you wont get shafted if you stay in bed with them ( IMO )

I know that probably means substantial dilution at say 10c but that appears better than the alternative to me

Hoot