I was at the meeting today. This whole thing was over very quickly. The only questions asked were again from only my friend & I.
My mate wanted answers from Paul on who was responsible for the fiasco of the 4 cents cap raising and the crap info we got from the company to base our investment decision on . All we got was the board.is ultimately responsible. When he asked if anyone was going to face legal action on this we got a simple no but was told individuals can take legal action if they feel the need.
I asked the question, is the 250mil free shares to Patterson's basically a compensation package for the 4 cents cap raising. My understanding to the long reply was yes as they needed their assistance to get them the financial backing. I then asked if they could extend this same courtesy to shareholders who bought at the 4 cent cap raising. Paul's reply was that new investors would probably not be interested in this and it was difficult as is to get the money but said he would look into it. I am not going to hold my breath there for fear of suffocation.
The positives were
Indication was they are very close to getting the minimum amount to survive.
Stage 4 looks like to have a lot more life in it than Sept next year
A particular Gent who's name was Jeremy. He was very impressive in his knowledge of Cockatoo, Irvine and understating of all matters that relate to PLV.
The whole thing is a F-UP due to incompetency and stupid business decisions like giving away ridiculous margins on sales.
I believe the new investors on this what I call a new float will do well.
Bottom draw stuff.
PLV Price at posting:
3.4¢ Sentiment: Hold Disclosure: Held
