Wow, one goes away for a couple of weeks and comes back and all...

Wow, one goes away for a couple of weeks and comes back and all hell has broken loose. Its part of the territory i suppose. I have been on this thread and on the company's site over the last few hours trying to make sense of the situation. As far as i can tell and its stated in PDN's announcements, the restructure is a response to the lack of progress of the sale of 24% of LH to CNNC. Its either the sale of the LH mine 24% or a restructure but not both. PDN has also clearly stated in their prior announcments that CNNC has a option to by its 75% , claerly there are "triggers" which PDN has not disclosed. Unless there is a compelling counter offer from another party, PDN will most likely have to sell that 75% to CNNC. Some posters appear to be arguing that CNNC will force PDN's hand into bankruptcy. If CNNC want the rest of LH this would be an extremely foolish move on their part, because their option then becomes invalid and the admistrator and trustee seizes all the assets and work out how to distribute it to all the stakeholders. In this scenario there is no guarantee that CNNC will get any of the 75% in LH notwithstanding the matter will be tied up in court for a number of years to even several years and no doubt various stakeholders will launch legal proceedings. If CNNC think they can force bankruptcy then seize an asset quickly, they are kidding themselves and that is not how the law works. CNNC would be better of buying 75% of LH or buying all of PDN rather than trying to trigger insolvency provisions. My sense CNNC will buy the 75% in LH, it will give enough money for PDN to pay all its debts and put money in the bank. It will not be the the same company in the sense that it will no longer have the same leverage to uranium price as it did but it will not have the debt either so it will give the company plent of opportunity to do things, probably a net positive overall, its the debt that has been strangling PDN. I think the market already has priced much of this in, it was trading in the 6-9 c range a couple of months back, so it appears the mkt already knows something has to give, it rallied because people thought PDN has sorted this out or was close to. In hindsight, they should of stopped trading in Jan when it became clear that CNNC wanted more than the 24% in LH and just focused on sorting it out rather than the nonsense we have had go thru over the last 2 months.