PDN was trading above $5.50 when the Fukushima disaster occurred in Japan back in 2011 and amazingly nearly $10 before the GFC, as we regularly say be open-minded for financial markets in both directions. Following the successful placement yesterday at 37c MM things the stock has the financial and fundamental back drop in place to trade higher, with 37c clearly being a point where larger investors were happy to step up.
In our opinion PDN is the standout business in the sector with the restart of the Langer Heinrich (PDN owns 75%) uranium mine in Namibia plus the company has a quality suite of exploration assets putting it in good stead.
MM is bullish PDN from around 40c.
Add To Hit List
