I can read the report. The question is when the drilling program...

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coopercopper

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31/01/23

09:08

Post #: 65964925
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Originally posted by legaleagle88: ↑

PDI has had 10 rigs at work during the last two quarters and have advised the drilling will reduce to 4 rigs with a corresponding drop in cost.
See Section 8 of Appendix 5

8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 1.9 Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. 8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.7 Estimated quarters of funding available (item 8.6 divided by
item 8.3) 1.9
Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”.
Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7.
8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions:
8.8.1 Does the entity expect that it will continue to have the current level of net operating
cash flows for the time being and, if not, why not?
Answer: PDI will not continue expenditure at current levels. The planned drilling program is
nearing completion due to accelerated rates of drilling with improvements
introduced by the drilling contractor and the number rigs being used is expected to
reduce to four by the end of March 2023.
8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further
cash to fund its operations and, if so, what are those steps and how likely does it
believe that they will be successful?
Answer: Due to expected reduction in expenditure described in 8.8.1, no steps have been
taken to date to raise funds. The amount and timing of a future raise will be
dependent on progress of drilling programs, the scoping study and regional
explora. 8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: Due to expected reduction in expenditure described in 8.8.1, no steps have been taken to date to raise funds. The amount and timing of a future raise will be dependent on progress of drilling programs, the scoping study and regional explora

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I can read the report. The question is when the drilling program will complete, what expenditure will fall to and what additional cost will start being incurred with respect to progressing the site re: JORC, EPA etc etc

PDI Price at posting: 20.0¢ Sentiment: Hold Disclosure: Held
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I can read the report. The question is when the drilling program...

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