As holders, with respect, I'd suggest you both do some research and check out last years 15th August announcement. It details the ASIC Determination following the Oakajee fiasco - a proverbial slap on the wrist, but a contributing factor to our current predicament.
Preparing a full prospectus for a relatively small capital raising is a costly exercise and one any company, particularly one as cash strapped as pdy, would not want to undertake unless it was confident of almost complete success, or was underwritten. Current holders would be unlikely to contribute in huge numbers so i believe they will utilise their 15% Placement Capacity to get a few 'foreign investors' to stump up some cash, relist, get past the 1st May deadline and see what the new financial year brings.
On a related matter, i don't believe we have received an update on the proposed acquisition of the Radar Iron, Central Yilgarn projects. As Radar themselves are suspended, maybe all of these transactions are interdependent on each other completing. Sounds complicated.....
Time will tell.
GLTAH.
Cheers,
Mac
Please DYOR.......particularly with this one.
LCG Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
PDY Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held
