From a previous post - just to reitterate.
To clear up - Retrace/consolidation sorry either way - a downward movement.
Somehow though I think the Canadians/Euros may have the controlling hand at the moment. If we have the same type of 'consolidation' in those other markets tonight then I might lean more towards believing a retrace is occurring.
My gut reaction (not an good solid measurement but what the hay) believes that the Canadians/Germans have taken the lead and pushing the price. When the big money in Europe invest it makes our Australian market look miniscule.
My short/medium term prediction is $3.90 before a ~33% retrace, if it breaks $3.90 its all the way to $4.50 with the obligatory profit takes. If it doesn't crack $3.90 easily I think we are in float mode between $3.10 and $3.90 until something occurs (company release etc). Timeline I guesstimate at 1 - 3 months.
Essentially, the Malawi project holds it all. The 'loss' of this asset would be beyond devastating. It essentially is holding up the SP from 2.60s in my opinion. Its a bit of a bummer that the BFS and the production start of Langer both come in approx the same time . 3Q 2006.
Imagine if Langer gets production problems. As an example - I was a AGM for a gold miner. Problems had occured with a mill (mill needed serious retrofit) due to the rock being 'harder' than expected (WTF? we're goes but we didn't check/measure the hardness?). Then on top of that imagine the Malawi BFS is not a pretty sight (can anyone say PDN at $2 something again)
This is a HIGH RISK investment ladies and gentleman . . . and with the risk comes the ample rewards ( 1.2c to say $3.30 being a ~27,000% return WOW. Even over ten plus years its unbelievable.).
If you take the latest reports circulating stating PDN SP @ US~$5 if U price gets to US$55 per Lb. Now go look at http://www.uxc.com/review/uxc_g_hist-price.html. Yes, that a constant $2005 price of U at $110. Somewhere in the PDN forum is a link to an article stating a $500 'super - spike' in the U price (WT... ah you know).
OK . . . assuming pure profit at $110 USD per Lb that would take my $5 USD share to say $10 USD. Convert to AUD in your time.
All I know is that IF (notice big "IF') the positive scenarios occur and nothing goes wrong calls of 'PDN is overpriced at $3 plus AUD will sound small and hollow. I also know that the PDN management is exceptional with years of U experience. They have made every step right for over a decade. Even more so lately.
When will I get out . . . Hmmmmm dunno it just looks so good at the moment.
Typical Disclaimer - No I am not an expert, no one listens to me, and I'd prefer it that way. This is banter, if you like the banter, do some research, make a spreadsheet, crunch some numbers, talk to an expert, and come to your own decision.
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$8.48 |
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Mkt cap ! $2.535B |
Open | High | Low | Value | Volume |
$8.19 | $8.54 | $8.15 | $11.56M | 1.373M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
14 | 4100 | $8.47 |
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Price($) | Vol. | No. |
---|---|---|
$8.48 | 3170 | 10 |
View Market Depth
No. | Vol. | Price($) |
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9 | 3919 | 8.450 |
26 | 8782 | 8.440 |
17 | 9436 | 8.430 |
14 | 11953 | 8.420 |
11 | 15086 | 8.410 |
Price($) | Vol. | No. |
---|---|---|
8.460 | 2199 | 13 |
8.470 | 10523 | 16 |
8.480 | 13915 | 13 |
8.490 | 16992 | 9 |
8.500 | 12443 | 9 |
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