Ann: Trading Halt, page-19

Reading financial reports of companies on the ASX is like trying to translate ancient Greek. So many hidden figures and guesstimates for the future.

PDN has $600 mill debt and $200 mill cash before this latest cap raise. We lost $76 mill the last quarter? and COP was about $36/ pound before debt servicing and admin, plant, exploration etc.

Basically if the U price doesn't head over U$50 (and preferable up to 60 or 70) in the short to medium term the punters may begin to panic.

No wonder Warren Buffet doesn't invest in miners - he has always said how can you invest in something that relies on unforeseeable future commodities prices. It seems he has a point.

Still I'll buy more at 26c. Hopefully it doesn't go any lower.