Hey Guys,I spoke yesterday with my broker who had discussed this...

Hey Guys,

I spoke yesterday with my broker who had discussed this equity rasing with PDN management....and what they have said is that they believed that there were rumours in the market that their balance sheet wasn't strong.....so they hope that this raising will address that....Also the takeaway my broker infered was that they want to use these funds to potentially pursue an acquisition.....so whilst we have lost value raising cash at this low level.....the price we would end up paying for another uranium asset will also be signficently lower then say 6 months ago! Below is an intresting anecdote on PDN"s valuation today from a Macquarie research note...

? Trading at attractive multiples. PDN is currently trading at an EV/Resource multiple of 2.6x, compared to 7.3x for Cameco and 11.3x for Uranium One, its Canadian listed peers. This contrasts to multiples immediately prior to the Fukushima accident, when Paladin was trading
on 8.1x, Cameco on 15.5x and Uranium One on 29.9x. As such, PDN may be emerging as an attractive takeover target.

To me this is not a trading stock....this is something to buy and hold for a year or so and atlest double our money in....!