pdn today, page-6

Hi Al1

Very interesting thoughts on a possible hostile takeover. I mentioned a while back that with the price so low, that any company with the slightest insight into the future, should have a crack at this company.

As much as the company has done me no favours, I cannot for the life of me believe how it can be at such a low price. Post Japan where I had a good holding, it was heading North at a rapid rate. The outlook for nuclear was very bright and PDN was ticking all the right boxes. I must say I was pretty happy with myself at that stage. What happened in Japan was unbelievable and the way some countries reacted was fair enough. But I think alot of them are regretting their actions and I believe they are going to change their tunes. Other countries have not slowed down at all, if anything, they have upped the anti on nuclear plants.

As our PDN leader has now said, the supply and demand factor for uranium is right out of whack, and PDN is in a beautiful position when the uranium shortage starts to take hold, and the uranium price starts to rise rapidly.

I don't doubt there are many stocks in the market that are way undervalued at the moment, but I am more than happy to buy PDN against most of them. I'm a long way off getting my money back, but I am very positive on this stock.

I think you have done very well to have increased your holding so much yesterday, and everything you have written makes alot of sense to me. I expect you to be laughing all the way to the bank. Myself, I would be very happy to hear that some company makes a bid at PDN. The way the markets are going at the moment, anything can happen. No matter what is happening anywhere in the world, it won't change the future demand on uranium.

Good luck and lets hope we have bottomed out. Also I did notice that last minute buying today.

Cheers