If anyone is a member of the Australian Shareholders Association may be worth a call but remember they are a "not for profit" organisation so are not that well staffed so things take time. They have been going for 50 years however!!
I spoke to them this morning (I am not a member but it's only $120 per annum):
https://www.australianshareholders.com.au/
More than likely they will refer someone to ASIC but there would need to be a prepared case almost certainly from a qualified lawyer to consider a class action. Many companies save their backside by having agreements made specifically that can save them from the wrath of shareholders.
I was a holder but did get out when I heard the numbers being thrown around by Bleyer - not lucky just good judgement of people.
There is of course nothing to suggest that the Mid-West project + Oakajee port and rail couldn't get up even though it has now been royally stuffed by two ill-fated attempts - Murchison and now Padbury. As I said before - be aware of the people involved - do not be led astray by the promise of big capital raisings by unreliable people who may have a blemished track record.
I may have the interested parties (off takers and long term port and rail operators) but no money for management of this calibre - simple.
It will be interesting to see when and if this comes back on market - Premier Barnett may well have good contacts in China for investment in this project but surely he cannot seriously be thinking of carting the current management up there after this fiasco.
Good Luck all
If I can help call.
Graham Turville-Ince 0410 549520
PDY Price at posting:
3.3¢ Sentiment: Sell Disclosure: Not Held
