I suppose Terry thought much the same thing and is now carrying...

I suppose Terry thought much the same thing and is now carrying a +$60k loss on the 2m heads he bought earlier this year.

Hard to believe that the sp was so close to 10 cents earlier this year and is now struggling to stay above 2 cents.

Unfortunately the word 'logic' is not part of some shareholders vocabulary. Doing the undiluted market cap sums for both PDY and AGU (excluding cash backing) it's quite clear that the recent AGU sellers take stupidity to a whole new level.

PDY current undiluted market cap = $33,586,471
AGU current undiluted market cap = $6,639,600

AGU owns 30% of the iron ore project, so if it's market cap is deemed fair value, PDY's market cap should be $15,492,400 or a share price of .6¢ .