i think that if this wolf named cameco appears at our doorstep .....then you expect the rest of the pack to be not far behind......
we look cheap and easy pickings...but when wolves smell blood they go into a frenzy......
the pack could end up biting at each other heels to get their share of Pdn.....
would not surprise me if two of thw wolves join forces and split up pdn...taking what they want ...and tossing out the rest for anyone keen to pay a fair price.......
but Pdn will not go easy.....it will not disappear into the darkness without a fight....
the price is attractive atm...so that makes a premium offer to the market price very easy and cheap.....
but will the price stay cheap....before an offer appears... will it be over $2 before an offer appears....
this stock by now has to be about 80% owned by funds nominees and one mining company Newmont Mining with almost 7%
its not going to be walk in the park takeover.......
these major shareholders not only want their investment back in full ...but also want a good PREMIUM to the market price to make it worthwhile...
they jumper at the $1.2o capital raising
the Conv Note Buyers snapped up the new 2107 Bonds ..no delays
the 2013 conv notes holder wasted no time in tendering their 2013 conv Notes to get the EARLY BIRD PRICE....WITH A FACE VALUE OF us$2.19 AT 6%PA
2 OPERATIONAL PLANTS costs internally to drop due to the currency devaluation...... all contracts denominated in USD Both Plants approaching 100 nameplate and may well exceed this..... Contracts signed for 60 to mid US$60 lb range with more contracts signed since that report......
Qld and Canada assets ..a future fortune sitting to be developed....with Qld just waiting for the LNP to settle in and then turn its focus on following the Gillard lead on opening up Aust for Uranium exports....along with just about every other state......
Canada just on the doorstep to energy hungry USA...and Rio knew this and snapped up Hathor to the detriment of cameco....
A buyer will by now be approaching all major shareholders and feeling them out to determine what offer they will accept.......
Newmont was rumored ,not so long back,to be a seller....they denied it.....where there is smoke there is generally fire......thats almost 7%
We were recently well over the $2 mark...and then suddenly it was driven down in earnest for no good reasons....some would say it was just following the market trends.....others will say it was the strike.......
seems to me all that bad reporting after the 14/02/2012 asx report should have killed it off ..if one didn't read the report in full.....but in march it went over the $2 mark....
..its after that rise ...it was hit with sellers..a combination of panic sellers stop loo hits shorters and those manipulating bot masters......
my conclusion all along is that the stock has been undergoing a consolidation in its share registry.....with a lot of new holder sitting just under the 5% reporting mark....
based on the new conv note price of US2.19 I'm adding in a premium to that that will take an initial offer close to $3...anything lower will be laughed at by major shareholder......
the major shareholders will be betting that in the end there will be more than ONE BIDDER..................
have a look back to see what the Newmont Holding originally cost.......they inherited them from a takeover....but would have been factored into the valuation of the takeover TARGET.
So I'm still looking for activity from July onwards...
and don't discount a Nuclear power producer teaming up with a firm like cameco to launch a bid.....the synergy would be perfection.
PDN Price at posting:
$1.19 Sentiment: Buy Disclosure: Held
(20min delay)