PDN managed to raise $300 million overnight, through convertible bonds. The conversion price is $US5.665 per share, which should have declared a value to the market.
The fact that the takeup was completed overnight demonstrates confidence in the company. The company can now settle all its 2011 bonds, and have $50 million left over for working capital.
I have absolutely NO idea why the market is reacting negatively - no matter how hard I look into it and think about it, I really can't see a negative aspect to it at all...
Can anyone else enlighten me as to why this was a bad thing?
I admit to being completely stumped by the market reaction and selldown?!?!?!
Especially with the uranium spot price shooting up - it's now up to $52.50/lb
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Last
$11.66 |
Change
-0.170(1.44%) |
Mkt cap ! $3.487B |
Open | High | Low | Value | Volume |
$11.80 | $11.89 | $11.49 | $34.10M | 2.930M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 10 | $11.66 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$11.67 | 6642 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1000 | 11.630 |
1 | 81 | 11.600 |
1 | 86 | 11.540 |
1 | 200 | 11.520 |
1 | 300 | 11.510 |
Price($) | Vol. | No. |
---|---|---|
11.700 | 2000 | 1 |
11.720 | 300 | 1 |
11.740 | 213 | 1 |
11.750 | 8532 | 1 |
11.810 | 2000 | 1 |
Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
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PDN (ASX) Chart |