a quick summary, page-5

Sorry for the lack of reply earler,

I don't like to post a lot on stocks I don't own as it is often unproductive and people often are in denial about poor performance. However, if you really believe that PDN is going to be profitable or even cashflow positive in the medium term future your numbers are probably flawed. Ask Borsh at the AGM when PDN will turn a profit? A simple but a good question.I would love to here the answer. In email correspondence with PDN a year ago I received the following reply to a query about the lack of profitability:

"We believe that achieving nameplate production and continually striving for lower production costs will enable Paladin to achieve a net profit over the course of 2012." (29 September 2011)- looks like another statement full of hope and lacking delivery. This is a typical PDN statement IMO.

Although I believe that companies should be ethical, moral and transparent, after that an investment to me is something to make a $ out of. I took a 3 cent haircut on PDN a few days ago and replaced that holding with SWM (which I mentioned in a prior post based on fundamentals rather than hype). Would you rather own x SWM shares or x PDN shares? Your first mistake is always your best mistake. I hope PDN makes squillions but there is too much going against it at the moment. I also bet that the H1 result will be a minimum loss of $80m. They are going to sell a lot of stock at sub $50/lb and be punished for it.