Some great points here mate.
AISC is $28-$30. UxC data is incorrect as they use volume at 2m lbs, yet PDN can produce 7m lbs
Chinese already own 25% of the PDN Langer mine, CNNC. They bought Rossing from RIO next door in Namibia. They just built a 4 block Embassy for Mining in Namibia, so its only a matter of when not if they increase stake in PDN.
Correct only the last year accumulation has been happening. Pros always do it after bond switch as the downside is protected. Unfortunately for the prior holders they lost 98% equity.
Govt policy is 1/3 spot, 1/3 own, 1/3 domestic (yet grades now gone)
The Bull Case for Energy Metals Going into 2019, page-17
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