Price was silly at $1.00 plus not so long ago - I saw no value -...

Price was silly at $1.00 plus not so long ago - I saw no value - the market cap compared to others was too large in terms of EV to resource given their stage in their business plan. Prices now are cheap once more - in my view. I'm fairly sure on this and to have a native title agreement is quite extraordinary in today's environment - a very large intangible. The 35.5c placement made me relent and buy. In retrospect is was a bit of coup for new holders, and hopefully for all LT holders. I'll hold on this time into 2012, assuming the macro-economics & demand for the final product stays at current levels. I'm no newb with iron ore wannabees. Re-CAPEX, I confidently hold another with over $3b CAPEX projected with a EV of only $85m. PLV's EV is approx $50m compared to PFS resource of a total of 143MT (with scope to increase confidence & total resource, less a potential 30%; and does not include the 17MT for Isthmus).

PLV nees to increase their resource model and level of confidence. They need to drill and drill and hopefully an off-take will come which will tie in the strategic investor. Obviously the pverall market needs to regain confidence in the mean time. I'm pretty sure the C/wlth along with the Mayala are sending positive thoughts to PLV. It's relatively small project but if they can somehow increase the mine life & resource, the projected IRR may increase. The fact that an offshore company is sniffing around provides some optimism. It's a spec with promise at these levels. Another through millions at it a few days ago at 35.5c - they've completed their own DD.