production, page-6

Hi folks

Pete11 I will make a few points re your post. I have eased off on posting as 2011 to this point has given us very, very little regarding company direction and detail.

Personally I need some new report/company info that reflects 'current' market and current negotiation details.

Yes we have received some drilling results and the grades of 69% recently re testing...all VERY good news imo.

Back to your post. We have ALREADY had fantastic drilling results. 2010 was littered with them!
I assume you are talking Isthmus drilling?
With respect to you and others, the indicators are ALREADY there. The DSO is there. The IO is there..regardless of what or how they decide to mine it.

Reading between the lines tells us the deals WILL HAPPEN within 2 months.
If the JTC drops off...expect other parties to jump in.

The 69% testing strengthens JTC MOU positive outcome considerably.

What about the recent steel mill interest?

The major players KNOW Irvine will be a producing operation/s.

Personally I think PLV management have been told to shut up shop re commentary since the MOU.
Blind Freddy can see that.
I said it on announcement of the MOU back in October, and i'll say it again, PLV delivered the MOU in an understated manner.
At the time if some of us remember, Al Reed commented along similar lines as well.
There wasn't much said.
This is NOT a criticism of management.
Its a fact imo of the implications and obvious confidentiality of the MOU arrangement.

Loose lips sink ships as they say.

PLV have probably been walking on egg shells since then ensuring they do all the right things to ensure the deal has the best chance of coming through.

And...thats the right approach I might add. To get the JTC onboard would be a company maker as we all know.
And then its a WIN/WIN for everyone.

Here we are though 1 solitary trading day left before March and we are sub $1.10!!!!

And March as we all know is PFS release month!

And here we are floating around a 200MC with a major Japanese trading company with $$$$$$ to spend ready to do the deal that at least initially depended on positive testing of a product that has attained a 69% test rate!

and..we have multiple parties sniffing around the DSO operation as well.

Let me give you the tip...strong interest doesnt eventuate over nothing....or just mere rhetoric or heresay.
Strong interest is based on results or demonstrated data/evidence....and hard yards done by the company to achieve those ends.

PLV has delivered strongly on just about every criteria since listing.

Pete11 and others none of us can call what the shareprice will be for sure...particularly with the levels of manipulation re the share price recently.

But does that matter when the IO price is considerably above the estimates given in broker report analysis that 'fully' valued the company around $5+?

If this company will be valued at 1 billion as some here say it will regarding a JTC deal negotiation, then i'd refer you all back to the current MC of 200 million!!!!!

Something doesnt add up!

$1.50 on announcement of JTC finance/deal?

I doubt it. Think we will be well north of that IF the market is fully aware of the deal and the manipulation as a result of that will be much more difficult to control.

We are only looking at 'part of' the valuation of the company for starters (re JTC deal) as that does not include (we assume) the deal on the Isthmus and the DSO there.

As for costs of operation etc etc. Historical references here point to $350 million for beneficiation plant and $25 million for DSO.

I'd be surprised if the PFS confirmed those numbers as perhaps the beneficiation or company direction may have changed re path to production...it could actually end up being cheaper for all we know!

Personally $2+ looks a given to me...particularly 'if' the JTC deal is secured and the PFS gives the green light or indication that DSO or IO will be mined in a separate operation where there is ALREADY strong interest.

Why?

Well for starters $2 is merely around $400 million MC.

Look at FMS. It delivered its PFS recently and is travelling at $364 MC.

Different company yes. But it doesnt have an MOU with a major. It doesnt have a CLEAR infrastructure deal or path yet either.
And it will be producing later than PLV.

We are tracking wayy behind where we should be imo.

JTC and other party deals will confirm that in the weeks ahead.