Hi guys The most objective answer in regard to where the SPWill...

Hi guys
The most objective answer in regard to where the SP
Will go medium term is depends on U price .
A low U price is not a nuetral as some seem to suggest - it's a negative as every month at this level = cash outflow for PDN.
So in my view the amount of time U price stays low is important
Jaw dropper was someone who I locked mocked a few months ago when I too fell into the belief that U price will go up , but today with spot at 32.5 and tending lower his predictions don't look ridiculous
One may think if the Sp was going to fall to a new low it would have already happened along with U price , however my experience is the market often waits for earnings results, at which stage analysts update numbers and views
LH cash costs are 28 so AISC I would estimate at about 36 and if we add
In interest and corporate costs PDN probably need a spot of about 40-42 to break even

In summary - one needs to prepare for all eventualities including U price increasing or U price falling or staying low