chinese investor - time to come clean on this

I believe it is time for the company to come clean on this.

On 26 May 2010, the company advised in an announcemnt that;
"...Padbury Mining Limited ("Padbury") has taken another step forward in its quest to becoming a key magnetite supplier in the MidWest after signing a breakthrough, non-binding Memorandum of Understanding (MOU) with a Chinese investor..."

OK, this is great, but.

1) It was almost six months ago now, and nothing more has been said about this, except for a few vague references on BRR i/vs.

2) FEL distractions aside, it simply does not take that long to organise plane tickets, to come over and have a meeting/guided tour of what's at stake.

3) Why can't the actual name of the Chinese company be named? Sorry, but this was always a little sus to me.

4) Many investors, fully aware of this reported 3.5c per share offer by the "Chinese Investor", will have bought shares, rightfully anticipating that the SP will in fact gravitate up towards 3.5c per share - the "Chinese offer" amount. This is not an unrealistic expectation, especially if the assay rsults are what the company hopes them to be.

5) Considering that this "Chinese Investor", and after 6 months, has not materialised yet, are shares in PDY artificially high at the moment due to some false expectation?

It is about time the company offers some further news/clarification this "Chinese Investor" MOU statement.

Q1) Is there, or is there not, a real "Chinese Investor" ready to pay 3.5cps, and if so, in what time frame. Pending JORC (which has been delayed) not withstanding.

Q2) Who is this "Chinese Investor"?

The biggest alarm bell for me, was last week, in BRR i/v on 12-11-10, Gary Stokes said, and I quote;

"...This is a distraction, or at least an attempt to distract. My interest's in completing the current drilling program at Telecom Hill, completing the mapping of Mt Padbury, continuing the search for a strategic corner-stone investor..."

Continuing the search for an investor?

To me, that suggests this "Chinese investor" as announced on 26 May has gone elsewhere.

The company has not released any new news to suggest this "Chinese investor" is still interested.

I would like to believe the PDY story, I really do, but come on, investors need factual information to make intelligent trading decisions, not wishful thinking, rose coloured glasses and half-baked stories.

Well PDY, drilling, JORC and FEL issues aside, what is the truth behind this "Chinese Investor"?
The silence is deafening.