This affects pdy because we are more north and would like the rail to go north, if you look the link 401 posted there is a map of the rail options we are located up towards sinosteel /gbg & a few others these mines are mainly Chinese backed actually sino was bought out by the Chinese to my knowledge , we hold a property that the Chinese invested heavily into with surveys /investors and they were hoping that they would use that route only to lose the tender to mmx/mitsubishi . Now with mmx falling short cost blow outs and increased tariffs in their bfs to try and bring the costing of the rail down,sinosteel who was to use the oakejee rail sidelined their mine a week before mmx bfs I suppose out anger to the increased tariffs & time delay on the project getting started.
Now what's happened is mmx sold part of the rail project to misub which shareholders will vote on the 13th of feb and in that time premier Colin has already been to china to ask them to come aboard again and have agreed to talk to misub on a better outcome .And let's hope we can play any part to this soap opera with our ip property . Most important is that they agree to start building a rail link. Gee I babble on sometimes if anyone can add to this or see something wrong I wouldn't mind it corrected . Cheers
PDY Price at posting:
1.0¢ Sentiment: LT Buy Disclosure: Held
