We are now wiser with the help of subsequent releases and...

We are now wiser with the help of subsequent releases and newspaper articles quoting funder to piece together what should have been in the announcement on 11th April,


- $6.5 Billion project for port and rail
- 80% conditional funding arranged
- 20% remaining still to be arrange by PDY
- Capacity of funder to complete transaction still to be determined

So if you all knew above at the time trading price and volumes would have been different.

So real question is why they rushed a half baked announcement at the time.

We know MD was in South Korea trying to secure the 20%.

We and PDY knew of FAS same financing deal that didn’t fly.

Logic would have dictated wait as deal in not finalised and therefore not a material matter requiring disclosure or at least disclose all material matters.

As I posted early on I really think this has all to do with Barnett’s visit to China at the time and we now know he was trying to entice CITIC to get involved with Mitsubishi, this would have slammed any slim hope PDY had of getting anywhere.

So rush out the announcement and hope to frighten the Chinese away! Real reason for timing as nothing else makes sense.

What a poor strategy which has led to such a debacle of the first order.

For a small fee I can assist PDY/Roland get the show on the road.

Why not approach Mitsubishi who are still good for $3 Billion, no questions of capacity to come up with the folding!
Also they have a mine to develop and therefore some committed tonnage to get things moving.

PDY/Roland would only need to find $3-3.5 Billion, petty cash for some one of his self proclaimed means.

Win Win situation!