From what we know - it appears likely that PDN will be substantially de-risked in terms of massive reduction $200M in debt and eliminates all risk of refinancing the 2017 convertible bond.
The current Market Cap today is $351M AUD (Approx USD $263M) and prior to the proposed deal we had USD $443M debt
At end of 2015 there was an announcement which explained
QUOTE
Pro-forma total debt reduced to US$362M (from US$443M) and comprises:
Remaining 2017 Convertible Bonds US$212M
Convertible bonds due March 2020 US$150M
ENDQUOTE
So we will still have 2020 convertible bond USD$150M debt left. And we have 25% less ownership of LH mine.
I think this is a VERY positive outcome given the portfolio of remaining assets and the removal of the re-finance risk. I don't expect 90c before U price recovery to above 70 but I do expect high 20c in the near future if the deal goes through and is binding.
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Last
$1.37 |
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Mkt cap ! $4.088B |
Open | High | Low | Value | Volume |
$1.37 | $1.39 | $1.37 | $45.77M | 33.36M |
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No. | Vol. | Price($) |
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Price($) | Vol. | No. |
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3 | 33470 | 1.360 |
1 | 20000 | 1.355 |
17 | 160795 | 1.350 |
1 | 24183 | 1.345 |
Price($) | Vol. | No. |
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1.375 | 1900 | 1 |
1.380 | 327083 | 4 |
1.385 | 62919 | 4 |
1.390 | 120414 | 7 |
1.395 | 42183 | 2 |
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Change
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