Wanelad, Hseng has a long term view on Pen. So why would you want a long term investors view when its pretty clear you are a looking for short term plays. As I suggested once before, maybe the daytrader diaries thread might be more suited to your views on Pen, you may get the answers you are looking for. Or maybe you should be directing your questions to Didier.
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"- Is it because further financing could be a problem?"
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Wake up and smell the coffee Wanelad, of course it was, and after every uranium miner took a bathing from the uranium bubble bursting, the GFC then ensured funding evaporated. Thats why when Pen managed to negoitiate a massive 50 million funding arrangment, that in itself sent signals that they have real substance, unlike some of the other overblown juniors with some vague claims to uranium reserves.
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"I tend to wonder if the GFC even had an impact on Uranium and it was more an oversupply and too many fingers in the pudding and optimism took the price in many stocks too far too quick."
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Spot uranium callapsed simply because it had run too far too fast. At a more complex level, the price collapsed because uranium is just not a spot-traded commodity.
When the uranium price began to move, the hedge funds moved in. Speculators jumped over each other to secure what little uranium was being offered in the spot market. When uranium prices simply became too silly, utilities decided to teach the speculators a lesson. They stopped buying, which created a big gap in the spot price, down she came.
And now we have had the GFC and a subsequent reversal in all commodity prices. The uranium price had already taken most of its hit in 2008 due to the uranium bubble bursting but that still not not stop us escaping the GFC. We had a double whammy.
As to your second round GFC question, well isn't the answer obvious.
Tell me a commodity that wasn't affected by the GFC.
Now I think I have sounded objective.
NK
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