Afternoon guys, There is a large rotation going on at present....

Afternoon guys,

There is a large rotation going on at present.

The overhang from Debt Funds to Equity Funds (e.g. Paradice, Tembo) is ongoing.

I am certainly making the most of this liquidity as a largish buyer. Once the unnatural holders have sold their shares liquidity will likely reduce significantly (39m shares today as a I type).

If you are bullish on U, then PDN represents an excellent investment vehicle for investors and, unfortunately for previous investors, we get to benefit from the terrible wealth destruction that the former management hubris created.

The value in PDN is not just the physical plants, R&R and exploration assets. It is also TIME as their two mines are fully built, are fully permitted, and are (will be) simply sitting there waiting to be restarted.

Many of the other developers, who admittedly will run in the coming bull market, will be a long way behind PDN in terms of monetising their potential.

I just hope that a more prudent management team looks after shareholders LT interests over the coming full cycle.

Cheers
John