Chinese offer follows maiden JORC results; highlights Padbury?s iron ore prospects Key Points Sichuan Taifeng Group Co Ltd (Taifeng) offers 19.9 % placement in Padbury at 3.3 cents per share, to be maintained at a fully diluted level Subject to the agreement of Padbury?s shareholders, Taifeng is seeking a one-year option to increase its shareholding to 30% of the fully diluted share capital, with options exercisable at 5 cents per share. Acquisition of 50-60% of the Peak Hill Iron Ore project at an agreed price on completion of a Bankable Feasibility Study of the project. Offer follows Padbury?s Maiden JORC compliant announcement of an Inferred Resource of 850Mt at 27.3% Fe and a hematite exploration target of up to 28Mt at 55-60%Fe. Padbury
PDY Price at posting:
2.3¢ Sentiment: Hold Disclosure: Held
