I think the sell off today had a lot to do with CUO entering into voluntary administration. Things seemed fine there and all of a sudden they were unable to raise capital or debt.
Makes for plenty of angry shareholders and a lot of nervous investors holding similar sized stocks petrified that the fate of their company might be similar.
PNA will be capped until they refinance their US$80 subordinate debt facility. I understand that discussions are underway with a likely announcement early next year.
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I think the sell off today had a lot to do with CUO entering...
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