Burn existing cash at around about $400k per quarter down to about $250k and then try to raise capital on a stranded tenement with a tiny iron resource and a port and rail project that has no government backing. Of course this will fail since who would pour more money into Peak Hill ?
In 12 months time the entity that is currently Padbury Mining will be rebadged as a tech-stock on the back of something like an Instagram or Snapchat clone. Or a medical-tech researching a cure for athlete's foot using nano-bots.
The LAST thing it is likely to be is an iron ore producer and infrastructure provider to an array of magnetite producers in the Mid West.
PDY Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
