Fellow Holders
When pdn was commissioning langer Hindrich there were a number of teething problems, much time was lost which put pressure on PDN,s ability to deliver product on time to its contractual customers so it bought Uranium on the open market (at considerably high prices) thankfully the problems were quickly ironed out and a valuable lesson learned.
It has now forward sold only about a third of its malawi mine potential for the first year.
This will avert any contractual hassles(which can be very costly should other teething probs arise.
Cameco, was to produce 10 percent of the Worlds uranium needs by 2009-2010 with its cigar lake mine.
Its mine is in tatters with underground flooding on a number of occassions and in different underground locations and at great depth.
Cost of repairs has run in to many many many millions and there is no end to the problem in sight, contractual requirements can only be met by buying uranium on the open market,- expensive,- and will only force the spot price higher not a good thing when you have to keep buying to meet long term contractual commitments and also spend money to fix the unfixable leaks.
To solve the problem it is now eyeing of PDN, who have an abundance of riches it will not be cheap as they have competition from areva, and others, who will not allow Cameco to gain a position of too much strenght in the sector, so with the pressure of a flooding monster mine and contractual problems that they can not meet without great expence on the open market - pushing prices up -they themselves may become a target from an amalgamation of two other players with great synergies I put forward PDN and areva as the buyers of cameco
This apparent Cameco takeover of Pdn has a long way to run and many different senarios are possible
Pdn the mouse that roared
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