For shareholders like you and me Barry the question of interest...

For shareholders like you and me Barry the question of interest is who wants the remaining 8% and how will they acquire it?

There are a number of scenarios:

1. On market buying - out of the question, too illiquid.
2. Onmarket bid for 8% share of remaining SMM shares assuming PDN or AREVA have not been quietly accumulating over the years. Could come from another utility seeking to vertically integrate.
3. AREVA launches takeover for PDN - long shot, they then move to compulsory acquisition of remaining SMM shares. Not sure what price we get?
4. PDN chooses to sit on SMM asset as it doesn't have the funds or capacity to develop yet. Unlikely IMO as they need cash to strengthen their position. Borshoff is approaching an age where he should be enjoying the fruits of his hard and admirable work.
5. We don't get the green light for mining and this limbo zone is imposed until that changes. Highly unlikely IMO.

Thoughts?