debt, page-26

Things can change quickly oslo - always keeping an eye on the sector - most shareholders outside of BHP, RIO, the 4 banks and the high yielders have been smashed, me included, and if uranium does pick up at the end of the year, good money can be made from here but sympathies to LT holders - atm.

The UBS update today worries me strike - you never know where the placement shares have gone really. PDN is over a barrel atm unless the uranium market improves - looking quite cheap now really, but it's a bet on the price of the commodity or corporate action - the problem being is the debt in future years which may in turn worry potential suitors, and the decision to halt negotiations and place monies is symbolic of this.

The Annual Report may not provide any joy so it's difficult to note any short term positives atm until the longs come in.