There is something that has been bothering me for a little while...

There is something that has been bothering me for a little while now. Something that makes me question either Tony's honesty with shareholders or the intelligence of the board. Here goes:

Why is our shareprice so terrible? It all happened because the PFS was rushed out. Why was the PFS rushed out? Because PLV wanted to try and meet the deadline for their MOU with the JTC. In doing this (i.e. rushing the PFS) the mine life looked short, the opex and capes looked high and the share price got smashed. But recently, in post #7028149, while posted an email from Tony, in which Tony stated the following:

"Hi XXX, of course we didn't know it when we did the MOU. We only decided on making a preconcentrate rather than full concentrate late in the PFS exercise. We had to model both cases and also look at the environmental consequences of both as well.

If we needed to do a JV with an end user the JTC would have been the preferred partner. If we needed to do a JV with a beneficiation partner then Timeone would have been the preferred partner.

We went with Timeone for good reasons. If we went with the JTC who was going to beneficiate our ore in Asia?"


This leaves me wondering. If, in light of the information in the PFS, PLV knew that they were going to need to beneficial the ore. Therefore, they must have known that the JTC weren't going to be able to beneficiate the ore and weren't the preferred partner. So why did they rush the PFS?

Either PLV management just didn't think properly about the consequences of their actions or the story above is spin. Happy to be corrected though.