Ann: Appendix 3B , page-20

practisingaccount, thanks for your post and think you have valid points wrt to the effect of the options. Also see your point of view wrt to the nature of options where i was grouping exercising options as the same as trading. I had heard that options holders had been selling in June to pay for the exercise, I admit I cannot quantify it but thought i would explain some of the roots of my displeasure.

squawk, will have a look at trading policy and it does address the legal part of my concerns. Thanks good info.

chocolatefudge, I think your IQ is about the same as PDY's share price and you are probably the only person on this PDY thread which I do not respect. IMO of course.

coolheadsprevail,it did make economic sense what the option holders did but timing is crap, yes we did get money in return but a pittance compared to the dilution effect. It was in the records and a part of the company so understand peoples frustration saying it is old news, you are right - i just think it is a raw deal, think it is a mess and it effects the my perceived value of PDY significantly - I should have taken the piggy back option dilution into account, 100% my error and lack of research. Agree with your sentiment in proving up our resources more but will be happy to see any offer, whether we take it is different matter.
In general I have a real problem with companies diluting shareholders as we own a % of that company which obviously goes down, also got a chip on the shoulder regarding managements lining their own pockets to the detriment of shareholders (not saying they should not be rewarded, it is a matter of degree). You can see why the PDY scenario put a bee in my bonnet and I intentionally wanted some debate on this issue hence played devil advocate to a certain degree.

In contrast to all the negative stuff I have been talking about I believe we have a great asset that is only going to get better with more drilling, particularly excited for future hematite potential, Chinese interest is great, DTR results are finally out and hopefully a cleaner company going forward. Good luck holders and will try to look forward as much as possible!