pdn a target lower volumes

late trading may see a slight volume spike..
but appears there are reluctant sellers left holding
REMAINING outstanding stock
--------------------------------------
xao +55.5
futures
DJIA INDEX Jun12 12,448.00 +29.00

SPI 200 Jun12 4,121.00 +59.00

EURO STOXX 50 Jun12 2,138.00 +56.00

http://www.bloomberg.com/markets/stocks/futures/

-------------------------------------------------------------------
pdn

high 129.5
last 127
vol 2.5 m approx

buys 2.4 M ver selss 1.78M

where has all the stock gone......

conclusion mopped up into the mid to high 80 % range

no change of holdings notices

conclusion.....major holders doing increases up to .9% to avoid disclosure

new buyers staying under the 5% reporting level.......

-----------------------------------------------------------------------------

uranium spot market no longer an indicator for uranium prices as volumes are low....

uranium supplies being locked in on contracts........with more contracts to come gloabally

----------------------------------------------------------------------

Turkey and China announce big Nuclear power projects.......
U.A.E already announced its new reactors to be built

japan 2 to go online...more to follow quickly.......

Japan refused US offer to buy its Uranium stockpile

US contract with Russia to buy it uranium from de-commissoned Nukes ends in 2013

conclusion....a massive rise in demand for uranium is on the horizon....

BUT...the Nuclear power companies are not waiting.....
they are locking in supplies now......

.............................................................

Industry consolidation

Rio buys Hathor...Cameco wanted it,,,and lost the bid

cameco announces $1Billon capital raising......look for its to be
on the lookout for a prime target to bid on......

BHP suspends olympic Dam expansion.....the backlash from the Carbon Tax Law

BHP will be looking offshore for a replacement investment./..where there is NO Carbon Tax

BHP...Olympic Dam is in a NATIONAL SECURITY ZONE...so very difficult for any outsiders
to gain approval to develop it.....

BHP...at years end...will I believe start the Olympic Dam expansion....but will
develop a go slow development plan spanning an extended time frame with lower expenditure
till the CARBON TAX IS REPEALED

----------------------------------------------------------------------
Tax year holding down prices in Aust.....but 20 trading days left after today.....

then the funds will have the low valuations to offset against profits for the year....

after that.....greeks and Spanairds willing with the ECB's help the market prices
will rise

BUT for Pdn....I see it virtually un hitched from the market.....
as the majority of the stock is now held ,so I conclude,by major shareholders.....

Ripe for the picking from july onwards....

--------------------------------------------------------------
Expected initial offer..if one comes

33% premium to the 2017 $US 2.19 conv bond note price
that could be followed by other bidders......

----------------------------------------------
any typos ..regrettable ..in a hurry