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PDY, PADBURY MINING LIMITED
terminal
post Posted: Jul 27 2010, 10:28 AM
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In Reply To: obdc's post @ Jul 21 2010, 11:23 AM

Wrong options july 09 (541,000,000) the balance

 
terminal
post Posted: Jul 27 2010, 10:22 AM
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In Reply To: Commander C's post @ Jul 26 2010, 07:50 PM

There has been many board changes over the past couple of years large fees drawn and the worst management imaginable.It is a train crash.

Asset does look good. Have a look at the option issue the they have put through at 1 cent at a time they were at 3 This alone had the ability to double the issued capital.

Now there is litigation everywhere from ex directors and so on as would be expected. I would not touch them until all this settles. It is claimed that this company is run by shadow directors the reciepients of the opi's Quinn and Ingraham. Ingraham also via his enities holds a management agreement.

Two companies associated are YRR and AGU .AGU hold a 30% JV on the Peak Hill ground. A pile of partly paids were issued here extensively to companies assocaited with Ingraham, Quinn and Eoannidis.

Just look at the chart for the last couple of years it is just going down down down. See what the take overs and the bids do and if the litigation can be put out then another look would be a good idea.

 
Commander C
post Posted: Jul 26 2010, 07:50 PM
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In Reply To: obdc's post @ Jul 21 2010, 11:23 AM

Hi obdc and terminal

Just came across PDY & AGU when searching for companies with tenements close to Sandfire's DeGrussa --- and up popped Padbury and Aurium.

What's the quick brief low down on why PDY share price is where it is over the last two years?

How can a potential hoped for 6 billion tonne magnetite target be trading so cheaply --- $20 million for PDY and AGU put together?

 
obdc
post Posted: Jul 21 2010, 11:23 AM
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In Reply To: terminal's post @ Jul 11 2010, 02:07 PM

I thought you would have had to have been fraternising with the group (of your last post) judging by the negativity of your posts.

I think you should check your figures from a previous post. My information is that when the options were issued, the share price was under 1 cent (closer to 1/2 a cent). Not 3 cents as you claim in your post.

That puts things in a different perspective!!

 
terminal
post Posted: Jul 20 2010, 01:10 PM
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In Reply To: arty's post @ Jul 16 2010, 09:39 PM



I found myself at a meeting with the so called enemy yesterday and "my god" have they compiled some information on Ingraham especially. The fee structures that we have all been told of are even worse than i expected.

I left thinking is "good bad" or is "bad good."

I can tell you this there is no lack of IQ in the Sage camp they have these blogs on toast. No so much Quinn he seems to escape the firing squad.

Unfortunately Ingraham looks like he will be the worse of here. But with Bension running a close second i surpose he is the only one worth a cracker. That is the problem Sage McInerney and there little fat mate are all worth a fortune and time is on their side.












 
terminal
post Posted: Jul 19 2010, 09:11 AM
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In Reply To: arty's post @ Jul 16 2010, 09:39 PM

Which ever worth finding out, but i can say is that no management can do worse that the group in AGU PDY and YRR we have never seen such poor share prices or more securities issues. Absolutely no idea, my 3 year old daughter would do a better job.

It will not be long before there is zero left in all three. Why? because they are not run for the shareholders.

Why and where do they get any support from, how do they get placements through surely the shareholders are not that green. Certainly must be a good story told. Placement after placement after placement at reducing prices, soon recievership?

I surpose people sometimes just want to believe what is being said.

 


arty
post Posted: Jul 16 2010, 09:39 PM
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In Reply To: obdc's post @ Jul 16 2010, 05:21 PM

Sorry pal, I don't do HC

It can't be rocket science anyway.
The question boils down to what the "1c" cash portion applies to:
  • If it's 1c for every PDY share plus 1/13th FEL share, the result must surely be greater than 1c.
  • If it's 1c for every 13 PDY shares, then the objectors have a point.
The way I read it, it's the former:
http://www.asx.com.au/asxpdf/20100708/pdf/31r7jg6gq7jbcg.pdf

if you're certain it's the latter, I won't argue the issue, because "1 cent per share (post takeover)" can indeed be so interpreted.



--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
obdc
post Posted: Jul 16 2010, 05:21 PM
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In Reply To: arty's post @ Jul 14 2010, 11:12 AM

Arty, with all due resepct, I think your mathematics is out. Please read my posts from last week on HC. I have tried to explain the calucation. The post is titled - Correct Calculation, worse then you think.

FEL have no money to finance this deal. The offer at the time it was placed was about .85 of a cent. Well below the current share price. HC posters agree with the calculations, so does the company (FEL). They have agreed the offer is below the share price!

The deal is a scam and a dud! It is worthless. That is why the deal is not explained properly. All they are trying to do is stop the deal going ahead with the Chinese because of the potential of this significant event! I certainly hope it happens and it will certainly benefit current shareholders!

 
terminal
post Posted: Jul 15 2010, 10:40 AM
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In Reply To: arty's post @ Jul 14 2010, 11:12 AM


PDY under a takeover from FEL and what now a mutiny from within the walls of YRR. And a proposed new board looks similar to the PDY board.

They still talk chinese investor at 3.5 cents. litigation everywhere and more comming from all their old board members, problem here is they have not

delivered to any one. I wonder how their larger shareholders are feeling now. They support the stock at levels of up to 3 cents and Ingraham and Quinn kept the cheap opi's. Being loyal is one thing stupidity is another.

Stokes underfire from the brian burke affair. The new chairman i wounder if he knows all that is going on here? I think he does not "The fast talking scotchman is doing yet another snowjob"

All starting to fall apart. I would say it has already fallen apart share price 1.3 last placement 1.7 plus already out of the money opi's what is the next placement at 1 and the one after that .8 and after that .6 and so on.

FINISHED and gone. The fast talker has played into Sages hand and driven the price down all on his own. Your IQ must always be greater than your greed unfortunately not the case here.







 
arty
post Posted: Jul 14 2010, 11:12 AM
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Who has been teaching these guys Maths? sadsmiley02.gif
In today's target statement, they calculate 1c cash plus 1/13th FEL share as being under 1c?

http://www.asx.com.au/asx/statistics/displ...;idsId=01079037
see footnote at bottom of page 2.
Even at 10cps FEL, the result would be 1.77c, which is well above 1.3c that PDY is currently languishing around grrr.gif
On the basis of such "creative accounting", I'd much prefer anybody else on the Board, voting most definitely for Tony Sage.



--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
 


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