I listen to the 2011 year end web cast the another day and it...

I listen to the 2011 year end web cast the another day and it was the same story of how well the company has done and the the mass shortage of uranium the world is facing.

The only problem is I have been hearing of this huge shortfall of uranium for 5 years and in that time the price of uranium has drop from $100+ to about $50 a pound now.

So is the question is the market really short of uranium?

I read 100s of articles on this over the 4 years and 99% say price of uranium will go up lots in the short term.

However I'm not sure anymore. With BHP, Cigar Lake, Kazakhstan , Areva etc.. all bringing on big projects in the next 5 years I think the market will stay well supplied.

In the last 5 years demand was stayed around 180 million pounds but supply has gone from 100 million to 140 million in this time.

How Kazakhstan has increased it supply so easy show if the price of uranium did increase to say $80 a pound supply will soon inceased to match demand.

At $80 a pound what would PDN shareprice be? and will PDN every be a $10 a share again?

P.S Was a nice pay increase for management of PDN again this year.