"Perceived poor results". This is not an issue of perception but reality. Look at the losses earned for the last 5 years. There is history- the Sept Qtr is not a one off. Look at capex forecasts Vs actuals as well over the years.
KM costs were supposed to be $35/lb at June 2012? Past statements and delivery of promises conveniently forgotten in this case.
The losses are draining cash. If the company spends $450m in FY 2013 and earns $350m this means more cash out the door and an additional interest bill to foot.
PDN is a high cost producer (the big players have a C1 cost < $20/lb). It is hanging on for dear life but exposing itself to spot prices in the current U2O8 cycle with its position on the cost curve is dangerous.
A simple question. At what stage does PDN need to earn a profit? I think we are there now. A $200m loss in FY 2013 is not going to be able to be withstood by the company in my opinion.
a quick summary, page-2
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Last
$11.81 |
Change
0.020(0.17%) |
Mkt cap ! $3.532B | |||
| Open | High | Low | Value | Volume |
| $11.60 | $12.03 | $11.57 | $31.41M | 2.662M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 15924 | $11.80 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.82 | 548 | 1 |
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| Last trade - 16.10pm 08/10/2024 (20 minute delay) ? |
| PDN (ASX) Chart |