The company's sp rose 933% during 2009, moving up 2.8c from 0.3 to 3.1c. A very good year (to be fair, 2008 was about the opposite performance.) To achieve the same % rise as 2009, the sp would need to get to a tad over 32c (a rise of 28.9c). The question is: Is that achievable? PDY would not be the first company to deliver such performance two years in a row. In any event, it seems to me that it would be a very good investment right now - while they're deliberating on the information they obtained from the gravity surveys to target the Hematite drilling zones. Hopefully, they'll stay on target with their expectations to do this by mid-January. And provided there's no heavy rain to bog down their rigs, they should be able to drill, hopefully within this month. Upon announcement of their identification of Hematite drilling zones, we should see a considerable rise in the sp - which will bring the company's shares up to more closely resemble their value. Its been a long haul, but we're getting close now. Best wishes for an enjoyable and prosperous 2010.
PDY Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
