The main reason PDN sold Manyingee was due to the fact that Nedbank wanted them to repay $5m as the value of the PDN assett that Nedbank has as security had reduced in value.
You can argue the amounts above as much as you like, but the fact is that PDN is currently in a trading halt, and todays news if it comes to fruition would leave PDN without income, and still lots of debt.
The main question you should be interested in now is Will PDN be taken out of the trading halt, and will PDN ever trade on the ASX again?
PDN could have taken themselves out of the trading halt this afternoon when they released the information about CNNC. However they chose not to do this.
I hope they do get taken out of the trading halt and trade again as it will be interesting to watch what happens.
Ann: CNNC Purports to Exercise Langer Heinrich Call Option, page-33
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Last
$10.14 |
Change
0.080(0.80%) |
Mkt cap ! $3.031B | |||
| Open | High | Low | Value | Volume |
| $10.39 | $10.54 | $10.10 | $13.51M | 1.311M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1928 | $10.12 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.16 | 990 | 1 |
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| Last trade - 16.10pm 15/08/2024 (20 minute delay) ? |
| PDN (ASX) Chart |