another new low, page-54

You know something, I reckon this is all deja vu
Just prior to Lehman Brothers, species got sold down.
Next thing you know we had credit squeeze
Oz minerals couldn't even get funding for a miniscule debt.
Eventually andrew michelmore sold OZL's zinc assets for a song to a chinese sovereign wealth fund to pay off the debt.
Michelmore was rewarded for his skullduggery by being made CEO of the new chinese zinc company.

same thing is happening here.
Investors are selling down species with high debt levels that could get into trouble in credit squeeze.
PDN has about $630m of long term debt and an interest bill of $61m so it fits the bill.
in addition,it would appear that they will need to refinance about $41m
it may have about $100m of cash though
all up then we are looking at about $100m in commitments
line ball
a lot will depend on what management does
Hopefully, they get a rights issue off before it is too late.