Agree with Joe.
The longer we wait on development of Hanlong's offer, the higher the risk of us getting back a depressed share price. I think the board should be realistic with the overall uranium market, this ain't the iron ore market.
If people still think we should be worth $1 or $2 p/s, then we should talk to Hanlong, then think again.
Look at grateful Paladin, they have much better projects and at more advanced stages than us, yet they're under $2 (though they have a higher market cap). But look at their grades? Its alot higher than ours. Same with EXT's grades (they are very high).
http://www.smh.com.au/business/paladin-seeks-partners-for-global-growth-20110902-1jqa0.html
Problem with BMN, we're on the weaker side of the bargaining table. Even a company as strong as PDN is now desparate to look for partners to help develop their projects due to the Jap nuke fallout.
Also Hanlong does not have a stake in BMN, so its alot easier for them to walk away and "be that partner" PDN is seeking.
Whereas for SDL's case, Hanlong has a 19% stake already, so likely they won't walk out from that bid.
I think the board should cooperate with Hanlong's offer and try and ask for a sweetner like 63c to seal the deal. AND be hurry (i hate waiting).
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Last
$1.98 |
Change
-0.010(0.50%) |
Mkt cap ! $353.6M |
Open | High | Low | Value | Volume |
$2.03 | $2.07 | $1.95 | $1.456M | 729.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 499 | $1.98 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.00 | 15350 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 499 | 1.980 |
2 | 612 | 1.975 |
3 | 28717 | 1.970 |
1 | 2715 | 1.965 |
3 | 9767 | 1.960 |
Price($) | Vol. | No. |
---|---|---|
2.000 | 15350 | 2 |
2.010 | 5000 | 1 |
2.020 | 9406 | 2 |
2.040 | 11481 | 2 |
2.050 | 9179 | 2 |
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