solid work by management., page-3

Excellent work by John and the team!

PDN are close to being cash flow positive with the spot price at $34/lb. With a record 100mill revenue quarter last quarter and both mines having combined record production at below budgeted cost things at a production level couldn't be much better.

With lower interest repayments and even a small uptick in the U price to mid 40's or 50$/lb we will be generating big cash flow and good margins!

I expect the uspot price to trend back up to 70$/lb in the next few years as the supply crunch hits, Japan restarts and China brings its huge nuclear program online.

Paladin could not be any better positioned after this announcement good times are ahead. Don't forget about the huge amount of quality projects we have in the wings for the next U boom.