Its negative for the fact that the relentless selling/shorting pressure has more time to weaken the confidence of long term holders and believers in general.
If 70c is breached, 45c is new downside target regardless of fundamentals.
Clearly the board are trying to sell equity via offtake but the longer it takes the weaker their bargaining position becomes with a stagnant U price and weakening share price.
Only way to blow the plans of anything messing with Paladin's future is to hive off an asset outright. This will buy time and that is what Paladin needs. Time to get into the supply squeeze part of the cycle. Good luck.
PDN Price at posting:
78.5¢ Sentiment: None Disclosure: Not Held
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