re: Ann: EDM: PDI Reaches $2M in Burkina Faso...
there was nothing really new in today's Ann.
My opinion is that the action we've seen recently was from people taking a position to be eligible for the rights issue (cut off time 5 p.m today)
The new issue is at 0.185. Personally I'm glad the SP hasn't raced yet it will hopefully reduce the temptation to dump the new shares immediately
With this fresh injection of cash the next CR won't be for a while and in the mean time we are well placed to further define the resource. I'd love to see a JORC quickly
Pity about the rainy season slowing things down but they probably have a lot of results to analyse and modelling to undertake so maybe a brief break from drilling is not a bad thing
No shareholders like to see a discounted CR but I believe this has been handled in an intelligent way i.e. not distributing to so called SI who dump at the first chance.
Personally my confidence is increasing
PDI Price at posting:
19.8¢ Sentiment: LT Buy Disclosure: Held
