The emotional attachment remark was for ura_bull who had the chance to sell out at a 200% SP increase from the 5c low.
CNNC have a number of options.
1. Make an offer to PDN for the remainder of LHM, this offer will undoubtedly be well below what some here would consider to be fair value. This offer would also include providing future delivery of Uranium to EDF which PDN has already been paid for and spent. This would also solve the EDF issue as well. There would then probably be enough to pay out NEDBANK . CNNC, EDF and NEDBANK are the primary holders of security against PDN. The bondholders do not hold security. However the bondholders should be able to be paid out from any remaining funds from the sale of LHM, and the sale of other assets.
2. Wait for PDN to go into administration and then purchase LHM at firesale prices. LHM would continue to operate while the company was in administration. A quick and relatively uncomplicated sale to CNNC would be an attractive option to the administrators. A sale to anybody other than CNNC would be complicated and time consuming to say the least.
PDN Price at posting:
10.5¢ Sentiment: None Disclosure: Not Held
(20min delay)