Think the future for SMM will be determined by whether PDN can survive the next 6 months with U prices continueing to fall. Will it be forced to offload its 87% share? Will there be another interested party apart from AREVA (who has a 10% blocking stake)? The share price will depend on more than one interested suitor. Cameco, Rio, BHP?
I think there is value in buying shares at these levels.
hold the line, page-4
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