About the only statement you've got right there is the last sentence but the inverse us not true. All ISR operations aren't in the lowest quartile of production costs.
From my attendance at the investor presentations and conversations with senior management I believe the figure they're actually hoping for is under $25 per pound production costs. That would be the optomistic number. I believe they'd be pretty happy with anything around mid 20s.
Current costs can be calculated in a variety of ways but suffice to say, selling at even $53 a pound is at a signficant loss for Lance produced Uranium.
What will PEN be worth??, page-109
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