fel / chinese deal

IP56 - you ask what the real deal is. I think some other posters have touched on what I believe is the real deal.

Acewin - you question about the Chinese signing the MOU.

Red Frog - you mentioned shares up to 15% can still be issued.

This is my understanding of the matter and a possible ulterior motive for FEL and those pulling the strings behind the scenes.

While there is a takeover bid, PDY are unable to issue any more shares (not even the 15% without shareholder approval). This effectively means that should the Chinese want to sign the deal, PDY are unable to issue them the required shares.

I would think that this is the motive behind what FEL and their crew trying to achieve. They are trying to stop a great deal from happening.

My understanding also is that this takeover bid is in place for 2 months. They can also apply for an extension to maintain this bid for a longer period.

I also understand that there is a panel in place that deals with "unfair" or "unreasonable" takeover bids (such as this one). One would hope that the board of PDY would take this deal to the panel and cut the strings associated with it. That would once again free up PDY to continue with its plan as per their announcements.

Either way, it is encouraging to read on this forum that there is no support for the FEL deal. I think we have waited a long time (at least some of us have) for things to start to happen. IMO that is not too far away.

Being able to have some credible JORC compliance statements by the end of this year will certainly put this company on the map. When one looks at the possible results and estimates by CSA global, the results are far better then what some larger companies have. (And these companies are trading at around 60 - 70 cents) Admittedly PDY has more shares on issue but I think we can all see the potential here!