Thanks guys. I was hoping that the approx 25Mt per annum supply...

Thanks guys. I was hoping that the approx 25Mt per annum supply from USEC was coming to a sudden halt but I can see now that was wishful thinking. Mind you, even if it is halved, that still removes 12.5Mt from the supply side which should have an impact on spot prices - hopefully very soon. I will continue to hold and possibly accumulate as I believe under these conditions the spot price should at least recover to $45 by the end of this year.

Despite some previous posts, I have heard on their recent presentation that PDN is exposed to spot prices. If I thought spot prices would remain at the current levels even just for the next 6 months I would be reducing my holding as I have much more money tied up in PDN than any other stock and even though they may get through the next 12 months with the current spot price on current production levels, the situation would not be attractive if an accident or strike occurred during this time!