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Message: Re: My take on all the silence.

Feb 26, 2008 05:54PM

You may be right. I think we are invested in good dirt but our management is poorly capitalized and chose incompetent and arrogant partners (Luxor). Since Luxor has demonstrated neither common courtesy nor intestinal fortitude in updating investors regarding the stautus of the Shagang negotiations, I have no further expectations of their ever adding any value whatsoever to the project. My remaining core position in PLL was paid for through trading profits during 2006 and I'm keeping it with other lottery tickets in case PLL management ever succeeds in shucking the Luxor deadweight so they can get on with the business of profitable mining. I have faith in the PLL team or I wouldn't own the stock at all, but they made an early mistake by giving up 50% to Luxor and now we appear to be stuck with the low spark of high-heeled boys.

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