With the recent rise in the share price, I have been going over PDY's last few annoucements and specially there last speeding ticket.
In that announcement, PDY states that they are waiting on the iron ore resource target. My guess this that may be the next one out.
I have been reading and looking at Vultex information and maps (extremely informative), which includes the magnetics of the area for both at Peak Hill and Mt Padbury.
My guess is that iron ore runs about 30 kilometres in length over the entire ground at least. PDY next door neighbour is Midwest or Sinosteel, the Chinese iron ore company. So at least we are in the right area. There ground must run into PDY ground.
My guess is the iron ore resource target will be around 2 billion tonnes when announced.
PDY have already, drill hole and rock-chip sample results of over 60% Fe. So the grade will be up there also.
What are your thoughts ??
PDY Price at posting:
3.6¢ Sentiment: Buy Disclosure: Held
