Very good assessment there YC - Areva took that blocking position way back when, and I managed to sell my SMM stock for $6.34 per share. It was very nice at the time.
However, as you point out, it has been having a negative effect on the value of PDN's assets since that time, and PDN really need to do a deal with Areva, or as you suggest - mop up the remaining SMM shares to take ALL liquidity away from it, leaving Areva holding the 10.46% baby, as it were.
A mining licence from the Qld Govt would add considerable value to the Skal and Valhalla resources, and may just enable PDN to swing a deal with Areva. They could almost clear their books and give themselves extra working capital in one fell swoop!
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