I got out today at 50c having lost 24% of my capital (purchased at66c).
I was toughing it out like most MT - LT holders here and previously took the view that cash flows were still strong enough to ride out the low in the pricing cycle. But I changed my mind today as I didn't like to see the report of an electrical fire at the LH mine. (I hope the injured workers recover OK).
The plant damage could be minor and not material (in which case I may have reacted prematurely), but I am not willing to risk any more capital. If the damage is more serious and results in the prospect of output reduction and high repair costs, then I don't like the impact that would have on cash flow and debt servicing.
In the medium term I still believe PDN can survive and return to more prosperous times,so will keep a watch on the stock.
GLTH
FT
I got out today at 50c having lost 24% of my capital (purchased...
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Last
$10.52 |
Change
0.380(3.75%) |
Mkt cap ! $3.145B | |||
| Open | High | Low | Value | Volume |
| $10.43 | $10.60 | $10.31 | $22.00M | 2.093M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 39693 | $10.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.54 | 1500 | 1 |
View Market Depth
| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| PDN (ASX) Chart |