$50 mill asset write up, page-8

>Is this just shorters trying to get the price down further >before covering? Or something else?

PDN is in the top 3 ASX-listed companies by % of capital listed as shorted - based on the current shorts report from the ASX.

I wouldn't be surprised if some of today's action is further shorts trying to convince the market to sell so the shorters can cover.

This is the top 5 from yesterday's ASX report (22nd Oct):

ASX Code Company Name Product/Class Reported Gross Short Sales (a) Issued Capital (b) % capital short sold
GNC GRAINCORP LIMITED FPO 4,061,854 228,241,481 1.78
QAU BETASHARES GOLD BULLIONETF - CUR ETF UNITS 32,118 2,362,245 1.36
PDN PALADIN ENERGY LTD FPO 3,760,699 836,825,651 0.44
NWH NRW HOLDINGS LIMITED FPO 1,145,032 278,888,011 0.41
FXJ FAIRFAX MEDIA LIMITED FPO 9,146,940 2,351,955,725 0.38


On the bright side, it does mean that any upwards price pressure will be swift.

I'm sitting tight - I think the current background news like Japan's contract to Areva for reactor upgrades indicates a coming revival in the fortunes of the Uranium market.