PDN +8.13%: released its June quarterly activities report today, a quarter which saw the decision to return the Langer Heinrich Mine to production in 1Q24. PDN is in a strong financial position with net cash US$177m meaning it is fully funded for a Langer Heinrich restart (capital requirement US$118m) and should be in a position to pay dividends in CY25. The Uranium market has more or less been in a holding pattern for the past few months, with weakness coming into the equities as some of the bullishness subsided in the near term. If you are interested in Uranium (as we are at Market Matters), it’s worth listening to the quarterly update from Cameco, which is the world’s largest publicly traded Uranium company – it happens Wednesday morning 8 am Eastern time in the US but will be recorded– here’s the link – https://www.cameco.com/invest/
MM remains bullish on PDN
Add To Hit List
