3 developments examined together

If one looks at the last 3 ann, each separately result in a markedly improved cash flow position of PDN. In isolation they are good, together they are great
1, Debt restructure reducing debt repayments by 35.5 million in 2014 and also big reductions in 2015
2 218 aud from sale of LH which will go to reduce debt . P and I payment reduction likely to fall circa 30-35 per per annum
3. C and M of KM. &-10 m use saving year one and 20 -25 use year 2

so collectively over the next two years, we have a huge reduction in cash burn and repayments. PDN has plenty of breathing space. The likelihood U price stays low for 2 years is very unlikely so PDN has made some clever decisions imo