PDN have already failed to meet their debt obligations, but due to the goodwill of their debtors they have been given extra time to come up with a solution.
If CNNC do not pay PDN an amount in excess of $600M for LHM, which would "NET" PDN $500m then PDN will not survive.
If CNNC do pay PDN a NET amount of $500m and the bondholders do agree to writing the extra $170m into new bonds, and NEDBANK does not call it's money in, and PDN can run a successful capital raising, then PDN will survive. However they will not have a working and profitable mine until the U price is up around $50 somewhere. Until then they would just have to put the whole of PDN into care and maintenance and sit on their hands spending as little money as possible.
According to the recent announcement PDN believe that the bondholders will support writing the $170m in new bonds. We will find out at 11am London time, in about 5 hours.
Ann: Reinstatement to official quotation, page-109
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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 |