just spoke to tony, page-18

Hi Again

After a few margaritas at the local Mexican Restaurant with Mrs Noiprocs, and in a moment of clarity I have come up with a few questions that might be relevant to the current state of play with PLV.

Is the PLV iron ore resource valuable as it stands and is it likely to increase further with additional resource drilling?

Is the beneficiation issue satisfactorily resolved and does it still allow for profitable extraction of the iron ore at Irvine Island?

Is the current funding disappointment just a temporary set back that will lead to other opportunities/scenarios to capitalize on the company's assets?

Is the current PLV management team capable of taking PLV to the next stage?

Was the current failed financing initiative with a focus on demanding a premium financing package, just a little too ambitious at the current time and in the tight time constraints imposed by the company?

Will further financing opportunities present themselves going forward?

Is the current sell down, likely to be a low volume knee jerk reaction by some disgruntled holders or even Austock Corporate Financing acting mischieviously as they prepare to do business with the company?

Is the outlook for commodities in line with the company’s plans to exploit the company’s iron ore resources?

Is gaining 100% control of Irvine Island of great tactical advantage?

Is achieving a 315% upgrade in inferred resources at Irvine Island a meaningful achievement?

Is a resource between 60 and 100 Mt of iron ore for Hardstaff Peninsular a great company asset at this stage of proceedings?

Has management performance in progressing its iron ore interests been satisfactory to date?

Is the repeated buying of shares on market by company Directors a positive development.

Is the transparent way in which the company operates with open and frank information exchanges invited across all media, a good thing for share holders and in promoting the merits of the company?

Will the company have sufficient funds to progress its aims over the immediate to near term?

If the answers to the above questions are a resounding YES, then trashing ones investment at current prices really doesn't make a lot of sense.

Expectations may have been raised by management in pursuing a premium financing package but the company's own tight scheduling is probably as much at fault in not being able to close a deal, than the intransigence of potential investors.

Closing off the current offer in no way declares that it not possible to deal on its assets. Quite the contrary. The next round of negotiations will likely prove to be far more flexible on both sides of the negotiating table, and the way ahead should IMHO, be full steam ahead!

Cheers
Nev