Wayword.........must take issue with some of your waywood...

Wayword.........must take issue with some of your waywood comments. As others have pointed out your are completely wrong about PDN having control. Do some more research.

I very much doubt that this pathetic scrip offer will have many takers. PDN have probably bought some shares on the market and if that is the case it will have to be disclosed very soon. But I would suspect a relatively small percentage. Most have probably gone to hedge funds.
I also think Firebirds sellout has probably gone to a friendly party because they have been strong SMM supporters for years and I dont think they would sell to the enemy..

With Beattie coming around ,which I have been saying for months if you look at my earlier posts, the PDN bid is blown out of the water.
Also regarding the JV on Valhalla and Skal I believe that SMM WITH THE MANAGEMENT RIGHTS can continue to drill up the resource and PDN are obligated to fund 50%. Legally they both have to be reasonable . Slightly shaky ground here but I don't think SMM for example could only drill up their 100% owned deposits and ignore the JV. One thing is certain until someone gets 51% of SMM the current board have the whip hand in how the JV is managed.
You mention PDN having a stable of new mines in Africa. Read up on your history and see how secure that is when prices for energy and minerals hot up... look at Chavez in Venezuala and see how quick these politicians can change the rules. Even BHP in the Russian Far East, have, after spending billions seen the rules changed and they have now had to give up 50% of a massive oil field.

The PDN board are very sharp .......which is why they want to get hold of SMM 's huge resource in a political stable advanced democratic country. They have done very well in Namibia , have some issues in Malawi but probably go to bed every night chewing their fingernails over their African projects.And this will potentially get worse as the U price firms and the windfall profits start to roll in.

Also your disrespectful comments about A.Eggers are totally out of order. He had the intelligence, knowledge and foresight to peg a vast amount of land in one of the richest mining areas in the world. And if you think that is hohum why didnt the super brains of the major mining companies do it. Because Eggers had the vision and beat them to it ; and then the sense to spread the message.

As I have said before I hope shareholders are not panicked into selling .........there is far more upside to come.
Finally the U price IMHO will go much higher. Although Cameco said Cigar Lake will be only a couple of years behind schedule i.e now 2010 , one of my good sources in Athabasca said some people are saying privately it may never open due to the extreme conditions and so many unknown factors regarding the draining of the mine and then preventing of future flooding.

And to all the downrampers that rubbished me last year when I said the policy would change and Beattie would fall into line...........I will have the last laugh at the end of April. You have got to understand QLD politics.
Best wishes to all longs , it is an exciting time. DYOR