Mike its all about timing. the sale will save PDN millions in...

Mike
its all about timing. the sale will save PDN millions in interest, provide it with more operational flexibility and ease market concerns of a CR.

to appreciate whether it was a good deal or not, one needs to low what the U price will do over the next few years and how much margin would that 25% generate and then do a NPV on that cash flow plus minus interest saved .

its all about risks adjusted return, they have protected the downside by strengthening the upside, if U price increases to the extent the transaction was a bad one, then the other 75% will be spitting out cash and so will there other mine, if not and U price doesn't increase or only increases marginally then the sale was a good one, so the only time it would be a bad transaction would be in a much higher U price environment and if that is the case PDN will be flying anyway