Darren my view is that PDY still have about $1m in cash. They...

Darren my view is that PDY still have about $1m in cash. They can continue to burn cash at the same rate as up to now and in 6 months things will be getting very uncomfortable. In order to survive 3 years they need to raise more cash and this will not be easy. My view is that PDY should cut costs (Directors freeze wages etc) and use the $1m to go out and secure a new project that will add value. The iron ore asset and the Oakajee IP, in this market in my opinion will not attract more capital and should be sold or joint ventured (providing anyone wants them)