IMO the shareholders are lucky to be getting anything back at all. And if it wasn't for the fact that the creditors want to keep a listing on the ASX the shareholders would be getting nothing. Theoretically it is the shareholders that owe the money to the creditors.. You are the people who have defaulted on your loan commitments.
The administrators and creditors have done a good job turning this company back into a going concern.. URA-bull was correct in what he said in regards to the company having a way forward and being debt free. Even though someone disagreed saying that the capital raising would be debt. The capital raising is not debt, it will be funds raised to allow the company to go forward debt free and pay for its operations.
Prior to this company going into administration you had IMO shares that were worth less than nothing, although they were trading at greater than .04c, which was much more than they were worth in my opinion, and a company that had a debt ridden future of administration and then liquidation.
I would not have thought that the administrators could have gotten the company back up and running debt free, with money in the bank, and still listed on the ASX. It is quite possible that this newly structured company may even make money in the future and pay a dividend, which is more than it has ever done in the past.
So I congratulate the Administrators and the shareholders even though it is quite obvious from comments that a number of the shareholders are not savvy enough to know why they have been fortunate to retain 2% of their holdings.
But a word of caution going forward.. Think carefully before adding to your holdings in a capital raising. Although the U price has had a small spike due to two of the worlds major producers cutting production, the spike is what it is,, a spike ,, and not a prolonged increase in the U price. There is a mountain of Uranium stockpiled around the world, which is why these companies have cut production.. Even LHM has significant stockpiles.
And by the way, with EDF on board the new PDN should be able to write some long term contracts with EDF at a much higher price than the spot price anyway.
That being said, in Australia we are lucky enough to have many miners supplying minerals for the production of renewables, such as lithium batteries. This is where the significant growth is coming in the not too distant future.
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