Upon thinking the 'Russian' announcement through logically, Sundays commentary all makes sense to me. Please follow the trail:
1. The Russians and Uranium 1 (UUU) are equity partners in some of the UUU assets in Kazakshtan while the Russians also own some direct equity in UUU.
2. UUU is an equity shareholder in Paladin (PDN) and would provide no other answer as to why UUU recently bought an equity interest in PDN this year other than 'watch this space'.
3. PDN was rumoured to wish to merge with EXT but it is believed the CEO thought the market valuation of EXT was a bit rich. This has now clearly changed with the article from Sunday.
Why wouldnt the Russians wish to see a uranium mega-merger? The UUU-PDN-EXT merger would be owned by just about every fund manager, the merged entity would the 1-stop-uranium-shop for utilities and the geographical diversification would be unrivaled.
I am open for discussion or ridicule on this. But indirectly, the Russians already own equity in PDN.
Cait
EXT Price at posting:
$6.78 Sentiment: None Disclosure: Not Held
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