18-Mar-2020: New 17c 24-month price target on the back of a rising uranium price - which hasn't happened yet - and may take quite a bit longer than I thought 12 months ago when I had a 1-year 25c price target (for around now). No income, other than via asset sales (which they have just done - on Friday). Not profitable. VERY speculative. I don't hold any PDN. My only speccy position in uranium currently is a small position in VMY (Vimy Resources) because I think Mike Young is an excellent salesman and not a bad mine manager either when he gets the chance (Google "Mike Young BC Iron") but like PDN, VMY has nothing but uranium that is all under the ground and they need a lot to go right for them before they will ever be in a position to mine it, not least of which is a much higher uranium price, and in VMY's case also an accommodative Federal Government policy on uranium mining here in Australia. I thought last year that we were at the start of the next uranium boom. Not so far. It will come, purely driven by demand - they are not going to close down all of those nuclear reactors around the world, and some places are still building new ones. And uranium miners will keep putting their mines on care and maintenance while the uranium price stays below the cost of production. Reduced supply, even in the face of static demand, will eventually lead to higher prices. Increased demand would just make it happen faster. It's taking longer than I expected (and certainly longer than Mike Young expected). Vimy is run on the smell of an oily rag - they are not burning through cash. Mike Young has other interests and other sources of income. They're more of a holding company really, just waiting for the uranium price to go up. PDN on the other hand is bigger, and they do spend quite a bit more money to keep ticking along. They released a market update today (18-Mar-2020) - which can be read here: https://www.asx.com.au/asxpdf/20200318/pdf/44g5dky9p7ffp0.pdf . . . . The highlights were: PALADIN MARKET UPDATE: Kayelekera Sale completed on 13 March 2020; Focus remains on the Langer Heinrich operation in Namibia with updated guidance on key economic parameters expected during Q4 FY2020; Current unrestricted cash balance, after Kayelekera sale costs, of approximately US$35M with FY2021 cash expenditure expected to be less than US$10M; The Company has restructured its Board and Executive Team to provide the technical and commercial skill set necessary to lead the Company back into profitable operations. . . . . . . . OK, let's see what happens. They're on my watchlist, but I don't currently hold any. 16-Sep-2020. I set that most recent 17 cents/share PT on 18-Mar-2020, when PDN were trading at 5c. They promptly dropped to 3.8c over the next week, then gradually climbed all the way up to 18c in August (last month). So my price target got taken out. They've dropped back below it now. New PT is 22cps. Still don't own any tho... My preferred Uranium speccy (speculative developer) is VMY - Vimy Resources at this point. Both VMY's uranium projects are right here in Australia, unlike PDN. PDN is an obvious Uranium play, but I don't care too much for their management. Nothing particularly against them. I just prefer Mike Young at VMY, particularly in terms of communication and promoting the company. He doesn't miss too many opportunities. 18-Mar-2021: Update: Uranium companies are running at last. Well, they would, I guess, after I sold out of them. New PT = 50c. Plenty of north-east-bound momentum on this chart at this point.