Explain to me the situation, page-11

My understanding of the situation as it unfolded was that new supply contracts were shunned because of the low spot and contract prices on offer. The decision makers thoughts at the time, from what I read, was that the U price would improve and everything would be rosy. Unfortunately as sometimes happens in the sharemarkets, prices stayed stubbornly low and PDN were caught in the perfect storm. Selling product below cost whilst trying to service huge debt which was taken on in the good times. The only contract which was to come on line in the future was the EDF supply which was partially paid for in advance with a $200mill loan to PDN. (See previously mentioned perfect storm) EDF has since called in their loan and cancelled their contract much to the howling and screaming of our beloved PDN shareholders of which I’ve been one. It confused me as to why some seemingly intelligent shareholders on here criticised EDF for their actions and allocated part of the blame on them for the PDN demise. It was a pretty straight forward business decision by EDF and I don’t follow the thought line that EDF should have supported PDN in their hour of need. I hope that helps with your contract thoughts True North and I’d be happy to hear that there is other contracts that I’m not aware of but I’d be surprised. DYOR
Regards Tommy