pdn, page-12

Hewjet
I think one needs to consider that even if the cost of uranium increased over the next 2 years to a level were it was above This mines total all in sustaining costs , the cost of the cumulative cash flow loss to get to that point plus the cost of the loss of reserve is substantial .

Up until this point , every month were U price stayed in the mid 30s cost in terms of cash wastage and reserve wastage . Furthermore it means debt can't be paid down increasing medium term interest costs

This is a recognition that breakeven of cash flow positive is not the goal , but rather effective use of cash and reserves is . The decision allows a quick ramp up that will provide PDN with a first mover advantage should the U price improve

Once again PDN is derisked further - remember they don't need this production . Why move now - perhaps the contract commitments have expired allowing for the decision to be taken