Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-10

There is strong chance that M&A activity will be triggered by release of study, if not mining permit grant. By jumping to a PFS this allows time for PDI to continue to explore significant regional exploration upside, keeping the stock within the 'Discovery' phase of the Lassonde Curve, thus, maintaining upward pressure on share price. If they released the planned scoping study next month the share price would likely go into orphan stage and see declines in price unless very significant regional exploration results were released or M&A activity occurred.

I see this as a medium term positive. I just hope the shareholders are not too diluted in the meantime and management can maximise current capital to create shareholder value before next raise.