Ann: Peak Hill Iron JV - Magnetite Exploration Ta, page-10

re: Ann: Peak Hill Iron JV - Magnetite Explor... 30% JV partner AGU is up 14% on the same news so obviously its not as bad annoucement as the market and other posters would suggest.

I put it down to the fact PDY have too many shares on issue and too many punters in it for a quick buck.

I am not really concerned about its location or type of deposit as many large scale magnetite projects are coming off in the same area....only have to look at Karara which commenced construction this week.

As the announcment is only a conceptual target statement, there is still good probability of finding DSO once actual drilling commences in the immediate future.