INSIDER TRADING It is not illegal to accumulate 5% of the a target company before launching a bid, done before and normal practice. What is not commonly understood in this country is that the provider of inside information is also guilty of an offence, not just the recipient that acted on it. Criteria used is would information have any price affect if disclosed.
ROY HILL COMPARISON Firstly put their operation into perspective as others have posted, vastly superior operation than anything in Midwest. Secondly their financials are way beyond anything contemplated here. $3 Billion has been spent on Roy Hill before finance for rest of project was signed off. Gina is worth something like $18 Billion, and a few years back had $3 Billion sitting in the bank. Pointless using this as justification for PDY getting finance.
OPR COMPARISON OPR fail due to no mining company in Midwest was prepared to accept their tariff, reports varied from $25 to $35 per tonne, whatever it was Sinosteel and others publicly bagged it and said not interested at that rate. Also remember WA & Fed governments were prepared to stump up something like $600M to get this going, Mitsubishi said their $3 billion was available but would not fund the lot, China at the time said not interested. I recall posting on MMX that it would fail and OPR not get up and was met with vested interests that said I did not know what was going on, just use common sense something some posters here lack. Redrockgeo I recall had similar sentiments and was attacked for his posts on MMX, if you are reading don't you see similar reactions here!
PDY CURRENT SITUATION We now have a proposition released to market far too early IMHO that promised to build the port and rail without even having the mandate from WA government or any agreements with miners that would be prepared to use the rail and port, never been done before, ask yourself would you pay up your hard earned without having such basics in place?
HappCats - is that you? http://instagram.com/p/m4HEVYSfGQ/embed/
PDY Price at posting:
3.3¢ Sentiment: None Disclosure: Not Held
