PDN has no value, page-14

Your correct except for a few variables. One is "Time is in the buyer's hands." Which buyer? I can see a distinct possibly of several buyers fighting picking over the carcass or buy in now at next to nothing to avoid the scavenger fight.

What I find most interesting is "$18/lb uranium price" The belief is that utilities are becoming “uncovered”; with spot prices so low, they have resisted locking themselves into long-term contracts. This could leave them scrabbling for supply at the end of the decade, giving producers the upper hand on prices.

Guessing when users of uranium who have no long term contracts in place start reversing this (alleged) policy is a key reason why many of us did buy into uranium stocks. Another stock I hold is averaging "Q3 Cameco average realized price $43.37 US/lb" I was not happy to see PDN clearly not in the same happier position nor is the market clearly!

PDN has value if it is a going concern in the short/medium term and demand forces users to sign long term contract and no one is signing long term contacts at $18/lb are they? Question is can PDN survive until prices recover or is it about to be consumed.

Would cutting off finance and forcing administration/liquidation cost share and bond holders and other lenders much more than helping carry the business over the low prices speed bump which is clearly hurting.

Who takes the biggest hair cut and how many may/will be fighting for then unencumbered assets or do we contribute to recapitalize ourselves. I appreciate capital raising is not easy or popular but those who have the belief in a near term recovery have already run a ruler over most uranium stocks. PDN is an ugly Duckling clearly.