It doesn't have to be a substantial discount. It has already been revealed by management that the ore is sold at a discount. Management can counter shareholder discontent with the lack if funding and the other alternative was worse. Unless there are superior terms that have rejected and prejudice and bias is proven, plv can argue they were acting in the interest of shareholders. Considering the events of the last year who could argue against it. Unless holders can prove a realistic alternative existed which I would assume is not the case.
What aka is talking about is the control in all areas of cockatoo - Weg has Sales and marketing Financing (doesn't plv need GNR's permission to organise other finances in regards to cockatoo) Discount on ore to GNR Control of shareholder registry to prevent Opportunistic TO. Presence of directors on board representing GNR Irvine processing in benefaction process via Rizhao port Vendor finance with the "assistance" of WEG
I think managements hands are tied. They know it along with the accountants that funding is difficult to get and without funding in the near term plv is a going concern. So plv has to sell itself to operate. This is why insto and long term holders are exiting. The risk to reward ratio is increasing by every agreement.
PLV Price at posting:
7.2¢ Sentiment: Sell Disclosure: Held
