re: head honchos The best way to evaluate this situation is to...

re: head honchos The best way to evaluate this situation is to look at the history of the company. Pdn was floated in 1994 after three years of work by individuals such as Borshoff. He acquired the works off of Uranez which he was managing director.

He, and fellow investors, such as myself believed that uranium had good promise, and invested in the company during the float in 1994.

So why the sell off by Pretorius - he wants some cash. We are all here for that.

Why are Borshoff and Crabb converting options. Possibly two reasons: one, that they wish to keep the percentage of the 'controllable' company shares at or above the current level. Controlable meaning 'those that will vote along the company's directors line', especially, when there are strong rumours of a takeover. Second, who in their right mind would not want to convert options at $.15, for fully paid shares now worth $.90. (Anyone remember the $.03 days-wasnt that long ago)

When you look at both points together, and use WMC/Xstrata takeover play which put a premium of 46% on WMC shares, you can see that the conversion of these options allows for both Borshoff n Crabb to gain quite hefty returns. And so they should. They have been waiting over 10 years for this to occur. Unlike the day players here, controlling a company and 'trading on the rise n fall' are mutually exclusive events. They leave that to the fund managers.

Those of us who invest on the fundamentals of junior explorers all know where going to be in for a long haul. So did Borshoff n Crabb. They did it during the 'bad times' for uranium. Now it's the new 'yellow metal' everyone wants to jump on the wagon.

So put it down to sound investment and, perhaps, belief in the strength of Pdn. Hopefully, for all of us, within two years Pdn will be $1.50+ when someone like Xstrata or a canadian miner comes along and makes us all happy with a takeover bid at $2+.

All speculation, but... I still dream of a $15,000 investment being the basis for an apprx. $300 million dollar company.

Borshoff n Crabb don't have to ... they've done it. All kudos to them.

My humble opinion.