the Chinese investor that was previously interested in PDY @ 3c+ was TFA International, an Australian subsidiary of the Sichuan Taifeng Group Co., of China (Taifeng). If memory serves me correctly, they were also interested in Ferrowest (FWL) at the time and ultimately went with FWL in a $29m investment and off-take deal. For your information, the FWL share price (in a similar pattern to every other miner not yet in production in the region) has gone from around 17c to approximately 2.5c today.
Not to excuse the performance of PDY's management (including the recent share grab), but please put things into perspective. As Bob has re-iterated many, many times, until a solid infrastructure solution is in place (with appropriate financial and political backing), it is hard to see what PDY's management team can do in the immediate future besides cutting costs (a major incentive for the merger taking place in the first place) and ensuring that pressure is placed on the appropriate parties to work towards a joint solution for the players in the region (i.e. promoting the Yilgarn IP to prospective players). Obviously measures that typically generate market interest (including further drilling campaigns) are out of the question until clarity is achieved regarding the status of Oakajee or an alternative infrastructure scheme is in place.
I'm sure that all holders are disappointed with where the share price is and the glacial rate of development on the infrastructure front, but at the end of the day, like it or not, our successes are heavily dependant on larger players (and nations) within the region.
PDY Price at posting:
0.5¢ Sentiment: None Disclosure: Held
