The Aluminium level is pretty high though and many iron producers will not accept this ore unless the Aluminium can be reduced. This is easy if the Aluminium exists as a clay that can be partially washed away. This deposit won't be taken seriously by those in the know until this has been addressed.
If the next ann doesn't detail how this is to be reduced then it is cause for worry as this ore will need blending with a low aluminium ore. None in this drilling program is suitable at this time and they may need a deal .
Depth to DSO suggests that there would be a lot of stripping required and they may need to start benification early increasing capital cost. It is also quite a way out with probably a long rail spur needed to attach to Jack Hills if permitted.
On a positive note the phosphorous level is not too bad.
I think traders are the major cause for the SP drop as few professional investors (who could interpret these results or have access to those who will interpret them) would be likely to touch this stock given past history of this company and current high MC (around $50m).
Results suggest this is potentially commercial though IMO unlikely to viable if ore prices don't remain high once RIO, BHP, and Vale, and the Chinese JVs in Africa dramatically increase output in a few years time.
PDY Price at posting:
3.6¢ Sentiment: Sell Disclosure: Not Held
