Well my friends, I have to tell you what I have just found out about another company I was involved with, and I have now realised that I will be writing off some more of my hard earned money. That company is BND Energy or Resources.
A company which went from a multi million dollars company going like a house on fire, to nothing.
The very same thing happening with PLV has just happened with Bundanna Resources. The thing has been going on and on for years and years and now, when it became clear that there is nothing left, the Receivers Managers just released a statement that the animal is just about dead and where the shareholders will have two chances of receiving anything. (Buckley's and None)!
They have just made that announcement so that the shareholders will expect the worst. Just like the bad news which are leaked by someone in the Government in preparation for the worst.
Sad but true.
That is how it happens in 99.9999999% of the times when a Receiver Manager gets appointed. They are getting paid quite handsomely (astronomical fees mind you.?), and the shareholders end up with sucking on the dry end of an icy pole.
I wonder if the Directors and Managers will get all of their entitlements though while this is happening to the poor mums and dads investors.
Take a good guess and one guess only.............I am sure that you will get it 100% correct. No chance of failing there IMO.
Oh yes, and all of this is happening while under the watchful eyes of a couple of good Regulators.
Welcome to the Australian Sharemarket my friends.........................Dear oh me.
PLV Price at posting:
1.2¢ Sentiment: None Disclosure: Held
