At current spot price, a 40% increase in production equals a 4o% increase in losses. The stated reduction in costs of $1-2/lb is a plus but not significant, eg all in cash costs reduced from say $31/lb down to $29/lb whereas spot price is around $21/lb. This announcement is an attempt to counter the poor 1/2 yearly report. PDN desperately needs a big increase in spot price or an asset sale to survive the next 6-12 months.
At current spot price, a 40% increase in production equals a 4o%...
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