This has been a "pain in the ass" for Barnett - he would like to see a "real" owner walk in and develop this resource.
Look back a little:
05/06/2009 - Change of name from GPN to PDY 29/10/09 - Stokes made MD
Here we are about 4 1/2 years on with about $1m left in the bank after the Q1 spend (TBC), 3.372B shares on issue and a company in a serious trading halt needing to make a clear statement to shareholders and the regulators + ASX regarding an offer of financing from a pretty nefarious source which clearly didn't go through the "proof of funds"/hot money hurdles and what they intend to do going forward. The "work" referred to has been very poor and any serious investor in the future would almost certainly demand its own management or selected nominations.
One would hope to expect an announcement from the company and or statements from ASX/ASIC. However if you remember the farcical SGX situation re Lion Gold, Asiasons and Blumont one might be waiting months - I hope not since, with the right people, and the ability to produce a low cost product (imperative) this could have legs
Good Luck All
PDY Price at posting:
3.3¢ Sentiment: Sell Disclosure: Not Held
