PDN is a uranium company with projects in Australia, Canada, and Africa. Their main operation is via a 75% ownership of the Langer Heinrich Mine in Namibia.
“Production ceased in 2018 due to low uranium prices, but it is on track to start producing again in the first quarter of next year,” Michael said.
“There has been renewed focus on nuclear energy, but this comes at a time where there is a major supply deficit.
“The price of uranium has already climbed more than 60% this year and is likely to continue higher.
“A 20-year chart of PDN shows that it had been forming a very large base for the past 10 years.
“It’s now trying to break free of this base and this could lead to a significant rally over the next couple of years.
“This means that the PDN share price has the potential to more than double from here, making it an interesting speculative trade at current prices,” Michael said.
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