olympians! democracy wasnt evented yet in our time, page-4

what's the pdn fuss all about Did some basic research on PDN's main claim to fame. Relevant ASX report per below link.

http://www.asx.com.au//asxpdf/20050509/pdf/3qt776yh2jp2b.pdf

Bottomline, their BFS is based on producing 11 years at 1.5 mill tpa at average head grade about 1.9 lbs/tonne for 2.6 mill lbs pa mellow yellow.

Resource base however is "only" 14,107 tonnes contained U3O8 in 22.2 mill tonnes ore at 1.55 lbs/tonne, so bit of beneficiation might be required. Ore is calcrete which sounds like a bit of difficult metallurgy for mine and hence maybe at high end of opex scale.

Doing the cashflow numbers, looks like their flagship LH is gonna be about the size of CMR's OXIDES starter project, both at around 100 mill pa gross revenues based spot prices. But reckon our oxides might be a bit more profitable though as well as only requiring about half the capex they need. And anyway, I'd rather be sitting 80 km south of Darwin than in mau mau land.

And maybe even our new U-discovery at Mt Fitch alone might give them a run for their money. Not to mention the rest of the glowing jungle targets.

PDN closed at 850+ mill bucks market cap on Friday cf CMR just short of 100 mill. Dont know what all the fuss is about PDN. I know what Id be doing if I had any.

Looking at the likes of PDN market caps makes that ORM 1331 holy grail seem not a bit crazy .... even on the full moon Rags. If we were at PDN's market cap NOW, we'd be sitting with the holy grail already in our keep !!!!

Bitova joke when I think of it hey .....

Just a few back of envelope jottings before going to bed. Kinda makes u think a bit. But guess they have the advantage of also being listed in cowboy land. Maybe thats what its all about (?)

Ho hum .... off to bed. Got moon festival celebrations tonite with some Mandarin maidens. Wondering if I should be wearing the toga tho.

Nite all.

IMBOOC. Correct me if Im wrong about PDN. They look way outa whack for conservative investors like me. Wonder if they'll ever produce (?)