Ann: Quarterly Activities Report for Period Ending 31 March 2018, page-6

Just finished browsing through the March quarterly, Production data not looking too good. Operating costs are significantly higher than 12 months ago. I'm sure there are valid reasons but they don't help the bottom line.

I recall a PDN statement (ASX announcement or December 17 quarterly, not sure) that the decision to put Langer Heinrich on C&M would have to be made six months in advance of the actual shutdown.

Based on current production costs, spot price, cash on hand and an obvious requirement to retain cash for C&M, I cannot see PDN operating into the new financial year, let alone for a further 6-9 months. My original estimate was a C&M announcement some time in May but perhaps this is a bit premature. But beyond FY18, who knows? Not looking good barring a "violent upswing" in U spot price. Probably too late for Paladin anyway.

Not sure if their are any HC holders left but good luck anyway.