they have enough options in the money to raise capital should people chose to exercise them.
If it's not the iron ore driving this, it could be that they are finally goiing to promote their massive position over the Narracoota formation. Eight or so other explorers have all experienced massive gains by promoting their comparatively smaller positions. Might surprise some, what the Padbury JV has here. I can see one major target for DeGrussa style fun and games but it means nothing coming from me.
Also, check out the Emergent (EMG) announcement today. I have spoken about them previously and drawn some comparisons to the PDY/AGU iron ore projects. Keep in mind that potential doesnt automatically equal reality. Also, as far as the Fe goes, we are also expecting some drill results from neighbouring tenements very soon.
News could be on a number fronts really. Have to wait and see.
PDY Price at posting:
3.3¢ Sentiment: None Disclosure: Held
