a) id bought bought back in at 38c then the deal was announced and was away the day it came back on so missed the short squeeze day. i just wanted to maintain my position.
b) so i sell enough shares at 36c to cover the cost of the rights (lost 2c/sh on the sale but will make 5c/sh on the 1-2 right assuming SP holds at 36c). At 39c i would have lost 3c but made 5c/sh.
being t+3 settlement im still a registered holder if i sell today.
c) im doing all this because im medium term extremely bullish on uranium and see pdn as the best leverage. and im ok with SP going down to 34-35 post deal
- however ive had to recognise the goldman sachs trade sale of uranium in spot market last week has stalled the momentum in that market and it will take a while to get back the manipulators on a roll - so it will probably be several weeks before we're back in mid 40s spot price
- once we are though, i expect pdn to start moving again.
PDN Price at posting:
36.2¢ Sentiment: Buy Disclosure: Held
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