irvine island – opportunity for development, page-38

I would not consider/worry about Ivine at all currently as a PLV shareholder, Cockatoo is where the company needs to get their head above water.

Some things that were of concern to me in the half yearly accounts that we should be concerned with were:

1. From Note 14
Stage 4 of Cockatoo estimated to have a duration of 31 months and the NPV for the activities for that whole time is nil.

So as we are not going to have any retained earning on the books from stage 4 which is scheduled to end in March 2015. We need capital to start stages 5 & 6 as soon as we can.


2. From Note 10 & Note 12
"Ms Wang is a close family member of Mr Jingbo Wang the General Manager of Rizhao Port Group Logistics (Rizhao)"

"Pluton must not enter into any binding agreements for any further financing for its Cockatoo Island Project without obtaining Rizhao's prior written consent except for a placement of ordinary shares that do not require shareholder approval"


It seems to me that PLV can't do anything but issue shares to not only keep their head above water but get additional capital for stage 5 & 6, There hands are tied IMO. I am not trying to down ramp I want the SP to go up but facts are facts and if the SP doesn't rise significantly soon we will all be diluted to almost nothing.

Cash