what we know..

And what we suspect.

So far, the uninformed tabloid journalists have been spot on with what they've been printing.

It's now confirmed that Roland Bleyer is the mystery backer through Superkite, Super Alliance Holding, Alliance Capital Holdings and Kirep Pty.

Superkite has just lost a court case in NSW and been ordered to return 65 000 dollars to Craigcare. The money was part of a deal to fund Craigcare for $500 million. The deal never went ahead. Superkite have appealed the decision.

Alliance Superholdings reached a deal in June last year to fund Fairstar Resources with an initial 260 million followed by a credit line of 640 million. The deal never went ahead.


Superkite is curently in a court case in the USA where they offered to fund Urban Retail Properties to the tune of $500 million. The deal never went ahead.

(Are we seeing a pattern yet?)

Roland Bleyer was branded as dishonest by Justice Sheppard who said:

"“It is plain enough that Mr Bleyer was already engaged upon, or thereupon embarked upon, a dishonest course of conduct.

“This involved him in gaining access to the numbers of ­credit cards held by a variety of people all in the United States and fabricating a series of fictitious transactions which were processed through the merchant facility established by Cosmedia with the bank in Australia."

What We Suspect (based on tabloid reports)

That this deal is not 100% funded. PDY looks like it may have to come up with 20% of 6.4 billion. Based on tabloid reports but, so far, they've been right. They know whats going on before the ASX do. Someone has loose lips.

I can't find any reference *anywhere* that any company associated with Roland Bleyer has successfully concluded a deal and funding was payed as agreed for any significant amount. For the sake of argument let's say a significant amount is over 25 million. If anyone can find such a deal, please post a link and I'll post a retraction and an apology to Mr Bleyer. (Hey look! Another flying pig)


In conclusion - we're stuffed. Anyone who has money in PDY should brace themselves for a big loss. If/when this opens it's going to go below 1 cent. If we're lucky.

Look guys. I don't like losing money anymore than you do. But face reality.