where do you put you money., page-11

StatsMan:

To say 200m for 30% is a lowball offer, I don't agree. I think it's the best possible offer they can get and I don't think they will lucky enough to achieve it. So, we will see.

There is another way to look at PLV. Let's say they get their 500m. So, their current MC 80m + 500m + 10% equity to native islander, PLV will end up having a MC around 650m. Do you agree with me?

Ok, for 650m MC, I rather buy GRR's share. GRR has a MC of around 650m at the moment. At the same MC, GRR is by far better value than PLV. I'm not trying to talk up GRR here. I'm just doing a comparison.

My point is that even at the best possible scenario, PLV does not represent a good value. Its plan doesn't create value for exiting shareholder.

There will be 2 best outcomes for the current shareholders, I guess.
1. A full T/O by a neighbor.
2. The company re-works on the PFS to reduce Capex.