"Secondly, and less obvious, is it shows that we at the point in the cycle where one of RR's great quotes that "Mines Die Hard" is happening. Despite everything uncontracted producers have tried to 'not die' they now are. This means that unless prices increase materially, and soon, then producers will fall over."
Brilliantly logical.
I'm very upset for PDN shareholders that have suffered the death by a thousand cuts. It has been hard to watch. And while I'm by no means expecting $50lb prices soon, I think $30lb is upon us within the next 6-9 months. But let's not forget...$30lb is still a terrible price. But it's momentum that should lift U stocks from disastrous to terrible.
Excellent is years away, but from these prices...'mildly good' should give most u stocks a 10 bag.
Good luck and I hope all are well, including naysayers.
Cheers
PEN Price at posting:
33.0¢ Sentiment: None Disclosure: Held
