Cnnc, page-13

Yeah, there's definitely a trade in it and if management were serious about going to mining (which I don't think is there plan) then this would be the ultimate undervalued Uranium play.

I'm still working through all the major share holders and bond holders.
I want to be sure (more than confident) that there isn't a majority holding of major holders who could accept the low ball offer.

Also the cash position is a major one.
If PDN have easily enough cash and are able to cover all debt commitments then no administration.


I'm under the impression that the Deutsche Banks $60mil revolving credit facility still stands.
It would be very bullish for PDN if this is extended to another 12-24 months as this would allow PDN to easily cover all costs over the next 3 years.

Given that the current forecast for the Uranium bull market will be staged over the next 1-3 years, I would say a take over offer (if this is managements plan) would come in this time frame.