ok buddy, so you have feigned outrage at my comments yet don't...

ok buddy,

so you have feigned outrage at my comments yet don't even bother offerring what else could happen because you know and you have done your research.. that about right?

as i have stated previously PLV will be in a far stronger position financially in Oct 2014 than we are today given ~100% of 6 months mining profits, and today, post CR PLV has cleared our (WEG's) debts.

"And unless I will be proven wrong, WEG is nothing more than possibly a two dollar BVI company."

Really? WEG are registered in Hong Kong not BVI, but yes they would have $0 behind them, perhaps you could DYOR instead of advising others to do theirs?

Last paragraph is laughable? no counter explanation as to why it is laughable?

The best solution IMO, and hope, is that they will accept what we have offered to them and walk away happy. For, if not, he mud could hit the fan in more than one way.

sure it is, but what i stated is what else will WEG do if we have the $21M and they refuse? do you not think that WEG is in financial strife? they have no money! do you think their legals would be free if it came to that? what is WEG's position in any legal stoush buddy 'we don't owe you money?' well unfortunately the CIMJV auditor KPMG says you do, $19.8M to be exact .. so what else are they going to fight PLV on IF they dont accept the offer? 'we hate management'?.. buddy do you think its legal to simply stop paying your bills in this country and not expect consequences, ie. civil damages? Sure their directors might not have any assets here in Australia but their company has half an island here.. ALL of that is open for PLV to chase WEG on if they refuse to accept the money they have agreed on in good faith.. which for them is clearly a 'get out of jail free card'..

the only way PLV could get in a pickle here IMO is IF they don't have the $21M ready to give to WEG in Oct 2014.. other scenario's can come into play like removing PLV as manager, selling shares etc.. negotiations have begun with patterson's to play a part in the underwriting of the 4.5c options to mitigate this risk..

by WEG not taking up the offer, they re-assume a $19.8million debt to PLV, they re-assume their half of Cockatoo enviro liabilities and they commit to paying their half of stage 5 Capex.. and if they don't then PLV will surely clawback their half of the JV for doughnuts via the Deed of Cross Security in the JV agreement remembering they have already been cash called.

The Deed of Cross Security becomes enforceable if a joint venturer fails to pay any cash calls or other monies due under the Joint Venture Agreement or the Deed of Cross Security and such failure to pay continues for a period of 14 days. Upon such an event occurring in respect of a joint venturer, the other joint venturer is entitled to exercise certain powers under the Deed of Cross Security to enforce the security interest and charge granted by the defaulting party, including the power to sell, transfer or otherwise dispose all or any part of the defaulting party’s JV Interest, and use and apply any moneys realised from the exercise of such power to remedy the default.