Thread by @contrarian8888

$PDN #uranium I had a quick catch up call with $PDN mgmt today. Some interesting insights. Firstly to address the sale of a directors 23% holding in the company which is what caused the stock to get smashed. In Australia, your tax liability is set based on when you are free to

Sell-given pdn just came out of blackout post results, that px was just recent & given Cliff Lawrence (chairman) did not want undue risk on px fluctuations, he sold to lock in the taxes due. This seems pretty reasonable. For someone who defended $AM mgmt for selling oodles of

Stock at 4.2 and bot boat loads sub $4,i can tell you over reaction for tax related selling can be costly ($AM since those sales has 3x including the generous dividend). In addition, mgmt is looking at expanding the LH resource such that there wont be a cliff in output from 9m to

3m lbs in Year 9-10. They feel with exploration & new technologies quite confident in building this up. They are seeing a lot of RFP activity but will hope to sign contracts in 1h 22. They will look to build a book 50% based on spot /50% on fixed px with a floor to start in the

Low 50s and hopefully average considerably higher by the time they restart (18mos post decision to restart). Michelin seems to be the next focus and with further exploration and seeing if they can do an open pit mine vs underground to bring down b/e cost. This is a

Another significant resource and was acquired for 260$M as part of Mt Issa. This should present another catalyst & the Queensland resource could be unlocked with a change in govt - every few years govt turns liberal which would allow U mining. ASX 200 - will happen 12/20 and

Estimates $100-400m of net buying. (I’d imagine a chunk of that has already been done). Another catalyst acc to mgmt is 12/22 where EU taxonomy they feel will include Nuclear. Finally, based on Utility discussions at Savannah, mgmt said the utilities are far more worried about

CHINA THEN SPUT. (Bonus if uve read this far lol). Why? China has huge contracts rolling off Orana, CCJ and KAZ in the next 2-3 years which need to be replaced. This in addition to the 150 new nuclear reactors means they need to significantly step up their U procurements. In

fact, cnnc has asked if they can step up their commitments with PDN for eg. Big picture, i remain optimistic as ever, and over the next few weeks will look to monetize my bubble tech short gains into even more commodity longs- been adding to $btu and $panr last few wks

And will look to add to $pdn and $age on any further weakness.