just what we didn't need..!, page-30

MD - not only the shareholders "assumed" that the revised offer for the asset sale would be a better offer, in the Quarterly Activities Report - which was well received by the market - this is a direct quote from the front page:

"Strategic initiative to unlock value extended to mid-late August due to a positive revised bid"

Now if that isn't stating that the market and shareholders could expect a better bid than they had previously been offered, I don't know what it says...!

Then came the big sell-down over 4 days, with the last of those four days being a huge sell-down on BIG volume. And coincidentally, on the same day that the Quarterly came out, UBS announced a "ceasing to be a substantial holder" notice.

Odd that - especially since UBS are the book builders for the placement. Which was announced after PDN went into a trading halt, with all the selling apparently finished. In fact, a nice little bounce was starting - heaven forbid!

Then the hammer fell - the Langer Heinrich deal was off, and a 15% dilution placement would occur - by UBS (how odd) - with a floor price of 70c (for a share that had been #1.125 only a few days earlier). Now THAT is what I call a discount for the institutions!!

And of course, last night, in Canada and the US, PDN shares were smashed down almost 30%.

Many people's life savings in super funds have been plundered here - something that I would not have expected from Borshoff and Paladin.

Who leaked? And to whom? Who was doing that selling? Why was Rick Crabb spruiking Paladin in such a positive light only a few days ago?

Questions - SERIOUS questions - need to be asked!