I think this updated Scoping/PFS thats due next month is being downplayed. PEN have explicitly said that theyre aiming on moving into the lowest cost of production quartile which, as shown in their presentations, is an upper of $18 / lb opex. Their current opex is $30 / lb. With the large reduction in opex and the minimal capex required for this mod, the new ph process update could significantly improve key project stats (NPV and IRR etc). Considering we already have sales contracts to 2030, I see a huge future ahead here.
Look at other uranium coys with similar stats:
BOE developer, opex $20 / lb, market cap = 100m
BKY developer, opex $15 / lb, market cap = 186m
PEN producer, opex $18 / lb, market cap = ???
I know there is only limited stats given in the above, but you get the gist of where I see the upside. That's just my take on things.
What will PEN be worth??, page-101
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