Stefanis, excellent post (thumbs up from me).The big question is...

Stefanis, excellent post (thumbs up from me).

The big question is how much can PDN reduce its costs once expansion is complete and costs are optimised, especially until the uranium market recovers? I suspect that they will be able to make ends meet (but only just), but certainly wouldn't RISK investment here until I saw evidence of that.

On the other hand PDN is currently trading near or around its net asset value (which I will use as a proxy for liquidating value), which if it were to come to an insolvency situation, would make current prices a relatively safe investment. It's certainly not looking at insolvency at the moment, and there is of course potential for erosion of this position with escalating debt. I certainly can't see the status quo lasting for too much longer- something will have to give. I will be watching the PDN financials and price keenly to see how it all pans out.