We dont know what the validity of the option is. The fact that they chose not to pursue it in arbitration doesnt automatically confur validity particularly now that the company is in administration. The adminstrator will look at these things and make a determination. Also we dont know if the option automatically negates a superior offer. As for CNNC, if they havent paid their share of costs that will appear as a recievable to PDN which the admistrator will either demand or contra off against CNNC. We also dont know why EDF skittled the latest proposal. There was a rumour going around that EDF did not want LHM to be 100% owned by the Chinese. True or not, who knows. All we know is Matthew Woods has made has made some positive tones that things can potential be worked out and that DB has stumped up a $60mln credit line. DB would not do that if this whole thing is about to implode, so DB clearly sees some visibility in outcome here. The rest is all useless speculation.
PDN Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held
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