Ann: 6M AT 32G/T GOLD FROM FIRST DRILLING AT KOUNDIAN, GUINEA, page-77

Agree, as always for mining stock the MC valuation will depend on the tenements so there is nothing we can do but there is already a world class gold mine producer nearby with average grade of 1g/t. I disagree on the CR, this was needed because the strike zone is now a lot bigger extending to NE and maybe even further so PDI will need this amount of capital for all the drilling.

Don't forget that management was approached by big Instos who now have invested with massive amount of shares, usually they invest after the JORC but given they approached PDI to invest so much shares is saying something. And of course the SI who participated in the CR would sell at 25-30% profit from the 8c CR but these big Instos are after bagger return as there is no way they can sell those amount of shares on the market.