SuperTim Brokers wont recommend a stock that misses promises, and rightly so, so 1 boat done in december and 1 more booked for january vs being told 5 by the end of Jan equals serious mgmt underperformance and a SP headed south for whatever top 5 excuses mgmt comes up with. Obviously we have some rookies directing operations as you suggest - new boys for sure with tram driver like qualities. Its a shame we dont have some serious miners on the job.
So when you say if "I" was expecting production to run like clockwork I would just point out I didnt set the target of 5 boats by the end of Jan and were I the one announcing to the market I would have set achievable targets given brokers see this stock as being a huge mgmt credibility issue. Personally I dont expect anything other than mgmt to deliver what they say they will and you cant build credibility missing production targets.
You guys with your rose coloured glasses on obviously bought way lower than i did at sub 21cents as that doesnt equal me celebrating, especially on the latest drift off on a seriously missed production target. Cant blame anyone else for that except management who round off 2012 once again disappointing, having thought they had finally gotten it right avoiding bankruptcy.
Finding it difficult to believe anything right now about what PLV might produce or be worth. More missed targets = no fresh investors. Try running your 2013 valuation off 1 boat a month....
PLV Price at posting:
18.9¢ Sentiment: None Disclosure: Held
