Not costly? Delay by CNNC in deciding not to buy a further 24%...

Not costly? Delay by CNNC in deciding not to buy a further 24% crashed the sp from 25c to 15c.$2M fee for failed restructure plan by Korda Mentha when foiled by CNNC with the trigger option to buy the lot. Time delay for 3o day decision periods by CNNC firstly on whether to pull the trigger and then secondly whether to buy after the independent valuation; 30 day time delay for the independent valuer; just when Korda Mentha's second restructure plan relying on sale of LHM was agreed to by bondholders, EdF demanded $277M pushing PDN into VA; necessity to borrow $60M to pay KPMG and keep the show running until end of September; CNNC decides not to buy LHM, forcing KPMG (PDN) to find alternatives to satisfy EdF's demand. CNNC and EdF have strong business ties. It is unlikely that they would offend one another. Like you, I believe and hope this can all be worked out. That is provided EdF and /or CNNC have no ulterior motive for preventing it being resolved. EdF may be looking for a bigger resource base for Areva Newco which could involve part of LHM in lieu of the $277M. PDN's holding in Summit is of little practical use at present as a peace offering. One solution therefore is that EdF gets $277M worth of LHM (and hopefully buys more to pay off the $60M), bond holders agree again to a third restructure and a capital raise sustains PDN. As you say, all speculation during these crucial remaining weeks of September.