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You are right Tommy but Fortescue had a very good and large DSO project.

PDY's project is nothing special at all. Many large magnetite projects sit with small speccies who dream of funding.

Follow FMG on stocknessmonster and you'll find it still took FMG years to grow to something large and that was on the back of good management, good project and a mining boom.

Company raises some money, company grows, raises a bit more, grows some more, raises a bit more....until critical mass.

A company with no growth does not just go to critical mass overnight. Multiple-billions do not get invested into a speccy just like that.

Things take time. A $70m subsidiary does not turn into a $10bn subsidiary overnight. It's impossible and that holders believe it is possible is beyond comprehension.