I see the positive side of this even though I thought debt would be a better non dilutive option. The debt overhand seems to be everyone's bear case on PDN, so effectively swapping debt for equity whilst the ducks are quacking will probably work out well. Not having the debt overhang makes me sleep better a night, so happy to trade some equity given PDN has room to go much higher from here.
It could be argued they could have waited for a higher price, but that carries a bit more risk as the runway gets shorter on that maturity.
It's seems those who have done capital raises have bounced back pretty quickly.
see what happens today, but I don't think it's going bellow 40c now if hey can payout the overhanging debt and secure the restart capital, it will be in the strongest financial position of an ASX uranium producer.
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