no takeover of pdn, page-26

my opinion regarding a takeover of pdn is that the larger players like cameco or indeed areva sense a revival of the spot price (even though 90% of trades are done off market at the long term price circa US$90/lb) and hence a revival of share prices of producers and hence are keen to make any acquisitions now while their targets are relatively undervalued.

In addition, cameco's cigar lake is still dubious as to when and if it will ever come on line and hence cameco needs to sure up some resources that it can bring to production rather than buy on the spot market to meet its forward sold contracts. Pdn is thus a valid target as it is producing and trading well off its highs.

I think we will see many juniors with jorc'd resources acquired on the cheap in the next few months also.