corporate governance, page-25

insideman have PDY ever done a scoping or feasibility study or published any Reserves. Having 5, 10 or even 100 billion tonnes means nothing if it is not mineable. The projects location and low grade are distinct negatives. Look at Karara they still are struggling and they are higher grade and much closer to a port. In my opinion the PDY magnetite is unlikely to be economic. The talk of potential DSO on new tenements is in my opinion "smoke and mirrors". We have been in an iron ore boom for the last decade if there was significant DSO around you would have thought some one would have stumbled across it by now.