PDN...Chart...., page-161

Hi Manny, in short NO. The reason I'm even commenting on PDN was that I saw the large downward movement the other day and thought here was an opportunity for a short term bounce trade. I think I even posted that thought.

Then I started to look into all the details of the company, and realized it is not just an issue about the bonds in April. It is also a cashflow problem that is getting worse as the price of Uranium goes down. A bet on PDN is IMO a bet on the price of uranium turning around quickly, as in the next couple of weeks.
People can write as much as they like about the price being at 10 year lows and unsustainable etc as long as they like, but it does not change the reality of the current uranium price AND direction.
Despite the current price being 10 year lows, in the 10 years prior to 2004 the average price was around $US10/lb, so in long term consideration, perhaps the last 10 years have been an aberration, we just don't know. People have been 'betting' the price of Uranium will turn around since 2013, and been wrong, so the chance of the turnaround happening before April is IMO remote.
Even stabilization at current price will see the company run out of cash before April IMO, and that would have the bond holders especially worried.

There are possibly share price covenants associated with the bonds or other debt that is possible to put the company into the hands of VA at any time. Again we don't know if there are any, but there usually are such conditions, to protect the lender. If such clauses exist you will only find out when SA has been called in and there is no opportunity to trade.

Again I reiterate that I think Specgoldbug has the correct approach, only bet if prepared to lose the lot, as it is a multi bagger to nothing situation, with IMO the odds favouring nothing, given the current Uranium price.