the story so far

This has more twist and turns than a fifties dance night :)

Ok, what do we know.


28/12/12 $17.2M raised via presales to Hyundia Steel

28/12/12 Pluton retain 100% of Cockatoo.
We know that weg failed to fulfil one of the conditions.

24/01/13 PLV enter a trading halt and ultimately go into suspension.
Changes at the company's Cockatoo Island Project

01/03/13 Debt funding of US$24M to a mystery HK based group.
Could this be the catalyst of all that has gone on over the last few months.

01/03/13 Resignation of T Schoer.
Thanks for everything Tony :)

22/04/13 4th ship loaded

08/04/13 Receiver manager appointed/ retired. 5th ship loaded.
A mystery, could it have been a power play judging by the next announcement

08/04/13 weg appointee leaves the board
See ya, leave the marketing agreement on the fridge on the way out.



The receiver thing has to have been a strategic move by PLV hence the removal of weg from the board.


My earlier thoughts have been strengthened by today's announcements.


"Nice" group wants to get an off take agreement and are happy to put in a debt funding arrangement

"Nice" group does not want to pay weg any percentage for sales and marketing

A condition of the off take agreement is that weg take a back seat, restructure thier shares to non voting shares and give up the board seat.

We may even see weg sell thier shares to this "Nice" group.


Financials to be updated/ audited.. Of this I have no idea.. maybe we will find out.. maybe not.


They are producing and shipping, one shipment every 2 weeks now.


It will all come out in the wash