short term trading - week starting 19th august, page-24

Entry for STT List PDY

FA Entry WA Based Iron ore play

Market Cap $12m Cash $2M

Padbury's flagship project is the Peak Hill Iron Joint Venture with Aurium Resources. This highly prospective project has a JORC compliant resource of 925Mt at 27.2% Fe, including 251Mt @ 27.4%Fe in the Indicated category and a maiden DSO JORC compliant resource of 11.55Mt @ 58.55%Fe.

Has been in the dog house for over 12 months with the rest of the spec Iron Ore sector but as FAS shows every dog has its day

PDY will need some great offtake deals and funding like FAS has pulled off and while its a big ask FAS has lit the path for how its done

Location isnt too bad either and in the past both the Chinese and the Japanese were aggressive buyers of projects

More info here
http://www.padburymining.com.au/projects/Peak-Hill-Iron-Project