PDI - Predictive Discovery

[Sean K]

Interesting that $20m of this CR is going to be allocated to exploration drilling. Even though they have a mine at Bankan already. Could have just drilled that out more rapidly and worked harder on the environmental and scoping studies. Makes me think they could be catering for a Plan B if they don't get an excise from the NP for a ML. But, maybe I'm just being sceptical.

Hopefully this placement gets them a new discovery around Argo, 800W turns into a satellite of NEB, next MRE takes the open pit to all M&I, the UG blob joins the open pit and 200k is added to the UG high grade resource. And, no more coups.

 

[mullokintyre]

Interesting that $20m of this CR is going to be allocated to exploration drilling. Even though they have a mine at Bankan already. Could have just drilled that out more rapidly and worked harder on the environmental and scoping studies. Makes me think they could be catering for a Plan B if they don't get an excise from the NP for a ML. But, maybe I'm just being sceptical.

Hopefully this placement gets them a new discovery around Argo, 800W turns into a satellite of NEB, next MRE takes the open pit to all M&I, the UG blob joins the open pit and 200k is added to the UG high grade resource. And, no more coups.


PDI has joined the list of co's that I have lost faith in.

The March statement at the Capetown conference about being well funded was obviously Bull$hit.
Planning for this announcement would have to have been well underway by then.
Will have o see something absolutely game changing before they get any more of my money.
Mick

 

[Sean K]

The March statement at the Capetown conference about being well funded was obviously Bull$hit.
Planning for this announcement would have to have been well underway by then.
Will have o see something absolutely game changing before they get any more of my money.
Mick

We see this all the time which is bloody annoying. Need to take these 'well funded' statements with a grain of salt and look at their quarterly spends and cash in the bank to see past the crap. Maybe they should be saying 'well funded till next capital raise'.....

 

[Sean K]

PDI keep coming out with good results which will increase the MRE towards the 4.5m oz range with the open pit likely to be all M&I in the next upgrade. The blue circles are obviously mineralised here and outside the current MRE. And, it's going to go deeper at a good grade. But, the stock keeps getting sold. Lots of West Af discount factored into this. Too much IMO. 4.5m ounces at $260m EV = $57 an ounce. Sounds cheap but need to compare with other West Af explorers/developers with a similar resource. Holding tight for the next MRE, scoping study and fingers crossed permitting. Maybe that will be the trigger for re-rating.

 

[mullokintyre]

Have had some low ball bids in the 15 range that have not been filled.
There's a few buys in front of me.
But patiently waiting.
Still think we may not have yet hit bottom for gold, but happy to be proven wrong.
Mick

 

[Sean K]

Unusual, but I guess this will be good news... Some loose lips obviously.

 

[mullokintyre]

I have gone out on another limb to select PDI for the July comp.
I have no fundamental reasoning, I just needed something that will produce gold.
Mick

 

[Sean K]

I have gone out on another limb to select PDI for the July comp.
I have no fundamental reasoning, I just needed something that will produce gold.
Mick

Not sure what's going to give it a boost in July. Maybe end of EOFY tax selling..

Lots of drilling going on, maybe a new discovery to the north or confirmation at 800W is another decent load of gold, or good Argo results. Should get the assays back from the hole linking the current UG resource and the blob beneath it too.

The only thing that's going to be major trouble for this is if they don't get an excise from the NP. Otherwise, the market will catch up, one day. I hope...

Got to get out of the channel at some stage.

 

[mullokintyre]

PDI quarterly out.
43 mill in bank, no debt after raising 40 mill in placement.
Both good points.
Unfortunately, based on current expenditures, the cash will only last another 3 quarters.
There have been some good drilling results out last quarter, with more drilling results out this quarter.
We can only hope that these drill results give the updated MRE due out this quarter will have a big enough impact to boost the SP and let them go to the market once again.
Still holding.
Mick

 

[Sean K]

PDI quarterly out.
43 mill in bank, no debt after raising 40 mill in placement.
Both good points.
Unfortunately, based on current expenditures, the cash will only last another 3 quarters.
There have been some good drilling results out last quarter, with more drilling results out this quarter.
We can only hope that these drill results give the updated MRE due out this quarter will have a big enough impact to boost the SP and let them go to the market once again.
Still holding.
Mick

Yeah, $$ should get them past a few more hurdles and potential catalysts such as updated MRE, SS and mining licence. Maybe.

Thought this ann might have included some new drill results but doesn't look like it.

Next MRE should link the UG blob with the open pit shell. Should also mean a significant change in the pit shell to include more resources in the mining inventory.

It's going to be an interesting SS which should put it on the map. I'm still guessing they'll be aiming for 250Koz pa for 15 years.

 

[Sean K]

Woop woop. Back up the train. It's going to the moon! JB, please delete my ramping.

Over 5Moz and growing at good grade and an MC of $350m. The arbitrage here is extraordinary because it's in a national park and the country just had a coup. No problems for West Africa.

Once they get the SS / PFS out that precipitates a ML it should be worth half of something with about 10Moz.

Roll your dice on an excise from the NP.

 

[mullokintyre]

Woop woop. Back up the train. It's going to the moon! JB, please delete my ramping.

Over 5Moz and growing at good grade and an MC of $350m. The arbitrage here is extraordinary because it's in a national park and the country just had a coup. No problems for West Africa.

Once they get the SS / PFS out that precipitates a ML it should be worth half of something with about 10Moz.

Roll your dice on an excise from the NP.

View attachment 160607

Yahoo, we will be trillionaires!
Am I allowed to brag about my post #169??
So what will it open at?
Will it be sufficient for me to jump a few rungs on the 2023 stock comp?
So much riding on this one!

Mick

 

[Sean K]

Yahoo, we will be trillionaires!
Am I allowed to brag about my post #169??
So what will it open at?
Will it be sufficient for me to jump a few rungs on the 2023 stock comp?
So much riding on this one!

Mick

I think it's still going under the radar or ignored because of the monkey park. Still huge risk.

Once it gets a mining licence it should be worth about a billion. That's not going to happen till next year....

 

[mullokintyre]

Yea, seems to have escaped everyones attention.
Bit surprised, but not complaining.
Picked up some at the open on 17.5.
My average buy in price is is a tad over 18.5, so not too far out of the money.
Mick

 

[mullokintyre]

I am guessing that given the parlous state of their finances, they will be going to the market soon, indeed I reckon they have already been
quietly wording up the instos and sophs.
The question is, will it be around the 17.5 or lower?
Don't really need any more, have a big enough parcel of what is still a bit of a risky play.
Will off load this mornings purchases if by some chance the market wakes up and pushes it higher than 20.
Mick

 

[Sean K]

Yea, seems to have escaped everyones attention.
Bit surprised, but not complaining.
Picked up some at the open on 17.5.
My average buy in price is is a tad over 18.5, so not too far out of the money.
Mick

I bought a tad more today. But it's only 1% of my holdings, because I'm really scared of the monkey park.

May ave price is about 19 cents, so I'm in the toilet at the moment. Just.

Need to break out of this chanel, preferably to the upside!!

 

[mullokintyre]

The drilling happening around the Argo deposit at Bankan Creek is due out in a few weeks.
I am thinking that good results in this one will push it up to the 5mill ounces mark and getting close to tier one deposit.
Mick

 

[mullokintyre]

I have taken a punt on PDI for September monthly comp, hoping to improve on my July selection.
Will the MRE come out before the end of September, and will it give a big enough boost to the stock to send it to the stratosphere?
Mick

 

[Sean K]

I have taken a punt on PDI for September monthly comp, hoping to improve on my July selection.
Will the MRE come out before the end of September, and will it give a big enough boost to the stock to send it to the stratosphere?
Mick

Mick, the updated MRE came out on 7 Aug. Next one isn't due till H2 24.

Next catalyst may be any success with nearby drilling at 800W and NEB North or discovery at Argo.

Then, Scoping Study but that's not due till the end of year, if it's on time.

The real kicker will be potential permitting in H1 24. If they get an excise from the park, it's game on.

 

[mullokintyre]

Mick, the updated MRE came out on 7 Aug. Next one isn't due till H2 24.

Next catalyst may be any success with nearby drilling at 800W and NEB North or discovery at Argo.

Then, Scoping Study but that's not due till the end of year, if it's on time.

The real kicker will be potential permitting in H1 24. If they get an excise from the park, it's game on.

Oh bugger, lucky I didnt put any real money in.
Mick