I think I had similar thoughts at one stage. Why Timeone and not the JTC? I got concernend that perhaps PLV went with Timeone because maybe the JTC pulled the plug. So why were the JTC even being considered if PLV knew they had to beneficiate? Remember, that at first the plan was to beneficiate ON THE ISLAND. This was always going to be expensive for operating expenses because of the power required for a full blown plant. It was also going to have an even larger environmental impact on the island - this would have created greater risk of the EPA not giving the go ahead. So, the most economical/lower risk option was to create the preconcentrate on the island and finish the job elsewhere. So at some stage, following the agreement with the JTC, it became clear that PLV needed a partner with a beneficiation plant and that the JTC couldn't really help in this regard as much as Timeone. So, I don't think there is too much to worry about as far as the deal goes.
The question remains though, why were Timeone so attractive to Tony and management? We've heard some information about them having contacts with the port and land for a processing plant, but other than that, the story is a little lacking in detail at the moment. I'd like to try and dig up some more information so that we can all ease our concerns a little about Timeone.
PLV Price at posting:
20.7¢ Sentiment: Buy Disclosure: Held
