$200 million is basically enough for the full restart plus some, so they must think it is time to turn the keys on LHM given it will take 18 months plus to production. Explains a bit now the price action recently. It will give utilities the confidence they need and probably allows them more leverage in negotiations. It would have been nice to have been debt funded, but debt can be a double-edged sword as we have seen with PDN in the previous cycle. No debt cashed up and 6 million pounds is a solid start.
No doubt they will use some of the cash to do some more exploration on their projects including LHM.
They will get $200 million away pretty easily in the current market at 72c for the restart because this won't be capital to just keep the lights on.
DYOR
uranium news, page-797
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Last
$15.93 |
Change
0.270(1.72%) |
Mkt cap ! $4.754B | |||
| Open | High | Low | Value | Volume |
| $15.78 | $15.93 | $15.55 | $27.43M | 1.732M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2993 | $15.92 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.93 | 3171 | 1 |
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| Last trade - 16.10pm 31/05/2024 (20 minute delay) ? |
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Last
$15.93 |
Change
0.270 ( 1.74 %) |
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| Open | High | Low | Volume | ||
| $15.79 | $15.93 | $15.54 | 523426 | ||
| Last updated 16.10pm 31/05/2024 ? | |||||
| PDN (ASX) Chart |