PDN surged +13.5% yesterday after Joe Bidens plans to reduce their reliance on uranium supply by buying enriched uranium from US producers also helping the local economy in the process. Clearly positive acceptance of nuclear power at any level is good news for uranium miners such as PDN, the news out of the US feels like the start of an improving backdrop for the sector which could see PDN at least challenge its 2021 highs making it a potential switch candidate within the Energy Sector from our WDS position i.e. higher oil prices force governments to consider alternative energy sources, however unpopular over recent decades.
MM is bullish PDN around 80c
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