> The market generally looks 6 months ahead
which if true implies that we don't expect the spot price to improve significantly in the next six months. Given that PDN are taking another 5/6 months to shut down KM, I guess they don't expect improvement in that time frame, especially as it will take another xxx (3?) months to start up again.
Morgan may be right that Japanese restarts will push the spot price up, but if I remember correctly, a year ago, the restarts were confidently expected to occur last year!
With PDN increasingly selling on the spot market, conditions are likely remain tough for the company, and shareholders.
I was hoping for a little irrational exuberance to bring my shareholding back from it's negative 15%, but maybe the market is smarter than I thought it was.
to shorters, page-11
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Last
$13.24 |
Change
-0.230(1.71%) |
Mkt cap ! $3.951B | |||
| Open | High | Low | Value | Volume |
| $13.66 | $13.70 | $13.24 | $115.9M | 8.727M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 60263 | $13.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.29 | 42663 | 1 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| PDN (ASX) Chart |