I would buy a large volume and already have because if a CR is happening then we would have an INF finalised, but way before CR required
* Our IP may have been used so would have made a buck or 2 there. * Merger complete, inferred resource not JORC and INF....most probably JV knocking on our door. * Or even a take over bid after the stars align who knows.
If the INF does not happen then it will not just be PDY in trouble but the whole midwest and a major loss to WA and current Chinese investements (to much at stake for it to die but anything is possible) . Nothing is happening at the moment as we are sitting waiting on an outcome regarding the rail and port and the finalization of the merger. PDY have also shutdown drilling program to keep us going until we have further funds from IP or JV in order to stop the chance of requiring a CR (smart mgmt). Also to have a Chairman it will cost us an extra say 50 to 60k a year and would rather someone there representing the share holders and in this case lucky for us TQ is a major holder.
I am also under the impression that all results have now been released, we are done with the labs until further drilling....I could be wrong. The best thing that has come out of the results recently is we now have an inferred resource FS can now be formulated properly and JV will be thankful for that.
Yes there is a chance that non of this happens (mainly INF) and and we loose everything, it is called investing in a speccie.
That is the risk most here understand and are willing to take as the rewards if it works out could be big.
Good Luck All Bobby
PDY Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
