Thanks for your research True North. It sounds like they have...

Thanks for your research True North. It sounds like they have some left over contract commitments but it doesn’t seem to be anything substantial going by the continued sale into record low spot prices. The position you suggested with buying from spot market and supplying to their contracts doesnt appear to be an option. The alternative to mining their stockpiles is liquidation so I would think it has to continue until a successful restructure or the white flag goes up. I personally can’t see how they are going to swing this to a positive result. They have huge debt with interest accruing each day, they are losing money selling into spot market. It’s a nightmare. What’s going to revive the U price ? The Japanese restart has been cheered on by U bulls (me included) for 5yrs but it’s been reported many times that they have honoured their contract commitments and kept taking uranium until it started coming out of their ears so they would presumably have large stockpiles. The Chinese supposedly have 9yrs supply and ownership in operating mines ( including 25% in our own LH) for their own product supply. In my opinion even with a successful restructure PDN and many other U producers are doomed without a VIOLENT upswing in the U price. AND SOON. DYOR
Regards Tommy