The real corker of a mistake was made when they took over Summit Resources and that is when the dilution began in earnest. Its only a jewel in the crown if you can afford to get it up and running and for PDN currently that is but a pipedream. So there is now a large opportunity cost in having to hang onto this asset in the hope of higher uranium prices in the future.
If I was a shareholder I would be heading for the sidelines until such time as they indicate they are committed to finding a buyer for either Mt Isa or Malawi. Debt reduction has to be executed in a non dilutionary manner otherwise the risk is for further SP depreciation. Confidence is lost in management so only the appropriate action (Asset sale) will be rewarded.
Otherwise the risk is further dilution events and the ship looks to be on the same path as the Titanic ...
PDN Price at posting:
55.0¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)