Wouldn't surprise me if PDY acquire Sinosteel's tenements around Telecom Hill. Sino was a half owner of Yilgarn Infrastructure when they lost the bid to built the port and subsequently sold the IP to PDY for just over $2m a few years ago.
Sinosteel have stopped exploration activities as of about 3 years ago as they were mainly after DSO ore which they could use to supplement their Jack Hills deposit which they acquired by paying $1.4b to holders of Midwest Metals back when the boom was in full swing.
The last report I saw from Sino said they had identified about 60mt of DSO in the region, including about 10mt from purchasing the MZM deposit.
PDY was also trying to buy tenements from Radar and Ferrowest who quit looking for iron ore, but didn't get the land as they couldn't come up with the cash at the time.
If Sinosteel decides to take a large position in PDY in exchange for their leases, they most probably would make an offer to build the port and railway. They need an Australian partner and PDY would seem a logical choice imo.
No longer a holder of PDY but hope they get back trading for holders sake.
PDY Price at posting:
0.7¢ Sentiment: None Disclosure: Not Held
