re: projects Bull,Retraces are bound to happen and placements...

re: projects Bull,

Retraces are bound to happen and placements can often cause a stock to be discounted. However, most of this placement will wind up being 'cash in bank' rather place on debtors. As such, I don't think this placement will be damaging.

The quesion then is 'how much is placement per share"? I would suggest 85% of a seven day average. Would PDN do some buying to get the price average up? Hmm maybe but nearly .30 in a couple of days. Nah not that much. Thats a lot of shares & money.

Halcyon,

I think PDN management is placing itself in the new & emerging U miner and moving away from the spec explorer.

With lots of millions in the bank it makes them a much more viable joint venture partner for other smaller explorers.

Why did they give up the SA dirt. Mining isn't manufacturing with some exact repeatable process. I would suggest that the geology didn't suit PDN, maybe the potential wasn't large enough? I don't really know but miners are always juggling potential and active tenements.

What I do know is I calculated $2.50 as a acceptable short term price. I thought 6 months hey maybe Xmas now.

What I do know is that a retrace on Monday is likely as people take there profits. However, I don't thnk the instos will dump placement shares and cause a price drop. Why on earth would PDN management facilitate that.

Oh...and to the idiots who think PDN doesn't have forward sales. Of course they do they wouldn't get finance without a known cash flow.

The SP rise was due to various things:

1. Annual General Meeting 2. Ground Breaking in Namibia 3. U price increase.

all putting PDN on the instos watch screens.

Finally, this is an aussie company but an international stock. The international instos carry a lot more curry than ours in general. If they like it - it could go anywhere.

Cheers all