The CB due April 2017 have now been taken care of, and this is...

The CB due April 2017 have now been taken care of, and this is now ancient history.
The next CBs are for USD150M and due March 2020.
That is more than 3 years away, and provides plenty of time for uranium prices to recover.
So either the spot price recovers and the uranium industry survives, and the CBs due March 2020 are paid, or the spot stays at $30, or over recent months even lower, and the whole market collapses.
PDN is projecting uranium prices around an average of $45 between now and when the CBs are due in March 2020. If they do achieve an average selling price of $45 - or even more - they will have made very good profits every year. The debt load will then be completely removed and with selling prices they are projecting for 2020 of $60 or more this company is going to become a giant. I am sorry to break this terrible news to you.

Some of the misleading posts on here and in fact the market valuation of PDN assume that spot will remain at 20 forever - remember it only fell below 30 in recent months, and PDN has explained that a spot of 20 does not make for a uranium industry - there will be none. It's a very very brave to call that - nymph would love that as he derives a great deal of pleasure from seeing PDN in the red, but it's not a realistic outcome.

Phil not my decision but have a think about whether you want to come back and join us on this journey. The other ones who have sold out, I couldn't give a rat's arse about.