PDN managed to raise $300 million overnight, through convertible bonds. The conversion price is $US5.665 per share, which should have declared a value to the market.
The fact that the takeup was completed overnight demonstrates confidence in the company. The company can now settle all its 2011 bonds, and have $50 million left over for working capital.
I have absolutely NO idea why the market is reacting negatively - no matter how hard I look into it and think about it, I really can't see a negative aspect to it at all...
Can anyone else enlighten me as to why this was a bad thing?
I admit to being completely stumped by the market reaction and selldown?!?!?!
Especially with the uranium spot price shooting up - it's now up to $52.50/lb
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PDN managed to raise $300 million overnight, through convertible...
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Last
$11.43 |
Change
0.090(0.79%) |
Mkt cap ! $3.417B |
Open | High | Low | Value | Volume |
$11.35 | $11.58 | $11.16 | $24.03M | 2.107M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 164 | $11.41 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$11.45 | 6746 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 164 | 11.410 |
4 | 12774 | 11.400 |
3 | 9325 | 11.370 |
1 | 900 | 11.360 |
1 | 300 | 11.350 |
Price($) | Vol. | No. |
---|---|---|
11.450 | 6746 | 1 |
11.460 | 1996 | 2 |
11.470 | 16746 | 2 |
11.480 | 22750 | 3 |
11.490 | 10119 | 2 |
Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
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