what an absolutely disgraceful scandal

PDN placement is at the bottom of the price range - on the "floor price" of 70c.

So - who knew? That sell down the other day MUST have been due to a leak. I can think of no other reason.

And after the good quarterly, plus the hints that the offer being revised for the Langer Heinrich partial asset sale was a BETTER offer, what happens?

We're told that the deal is off, and that a 15% dilution share placement is to be done. By UBS. And as I type this, the Toronto share price has plummeted by about 24% to 69c.

This is a scandal that is up there with the Newcrest scandal from a couple of weeks ago - and which is quietly being swept under the carpet. This one no doubt will be too.

The poor mug retail investors are left holding the disaster, while UBS and the big end of town make a motzah.

If the ASX and ASIC do not look into this and actually DO something about it, then it just confirms that they are completely useless outfits with no balls and no teeth. And that the market has become a casino run by the big end of town, with the retail investors as the mug punters.

What an absolutely disgraceful scandal. Borshoff and the Paladin team should be ashamed of themselves. They have sold their long-term retail investors down the river well and truly this time!