. It’s nice to have stocks rip (aka ,$AM) while others like paladin take a rest after a monster rally from the lows in US$ terms. Uranium has been quiet as spot’s rally has slowed down as buyers still haven’t entered, and some market participants are bearish on supply
Being flooded with resumption of production. Anyone looking at what CCJ has mentioned- resumption at cigar lake will be for economic reasons (guys its not economic here), & skyrocketing COVID cases in Kazakhstan i would think that supply will get delayed. The Tenge also rallying
12% makes it likely that KAZ will want a higher spot. Couple all this noise with placement galore (something ive warned about-with VMY, PEN etc) and you have had the momentum in some names like dry up. However i expect in the next week or so will come up with their
Restart plans and this should serve as a large catalyst esp for a company that is cheap, has 3 years of cash burn left, and is one of the larger producers in the world with no risk on environmental or other permits needed (or large $ needed to build a plant) (remember the old
Shareholders already paid for the $600m LH plant. I added to my considerably large position last night. The rerating from junior explorer to producer should take the stock back to the high teens in my estimation (even w/o a big move in ). Recall other uranium names like
Ccj and nxe are already back to their July highs- a time when was 16c. And unlike nxe which wont produce for 5 years and still needs to raise significant $ to get into operation, pdn can be up and running in 12-18 mos something the market has not given it any credit for.
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