so it is real. FCU asset is stranded......and it (almost) doesn't matter how many pounds PLS has.
just got it confirmed from a guy from a uranium titan (you can guess the company).
the reason why there are no bids for FCU (despite a tasty geology and PEA) is really the mill - which is probably harder to permit/realize than what we shareholders are told. I guess that's why Dev really wanted to go for the merger - because it was a lifeline for the company. it also explains the apples/pears/fruitbasket comparision by the CEO of DML.
i always worried that the asset is basically stranded so here we go. of course if PLS's pounds double then there may be a rethink about how stranded it is. but for now adios. it also means that come 2016 it will be almost impossible to raise money at decent terms. so in the next few months expect a big downward pressure to let newcomers in at a price that is optically ok.
the one think i do not understand is why actually DML wanted to buy FCU in the first place. but it is likely that they are in the similar trouble (low quality assets) and as they were not offering any cash it really didn't matter to them.