the biggest risk for PDN has been the debt. If the LH sale goes through by year's end, then Alex has de-risked the balance sheet - which is the number 1 negative factor for PDN, and the number 1 positive for shorters. My main concern is that they didn't name the buyer.
PDN is a low-cost producer which achieved positive cashflow in the last qtr, despite being at the bottom of the U price cycle. PDN didn't sell into the spot market (which has fallen on incredibly low volumes). In other words, hardly any other producers sold into it either.
Shorters are very keen on companies with big debt, and hopefully PDN won't be in that category for much longer.
Today's news is great, but only if the LH sale comes off. (As with all stock, SP often goes up on rumour and down on fact).
Strategic Transaction - before end of July, page-131
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Last
$10.16 |
Change
-0.040(0.39%) |
Mkt cap ! $3.038B | |||
| Open | High | Low | Value | Volume |
| $10.00 | $10.24 | $9.96 | $17.95M | 1.771M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5383 | $10.16 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.19 | 1000 | 1 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| PDN (ASX) Chart |