At the end of the day I don't have the arrogance or stupidity to...

At the end of the day I don't have the arrogance or stupidity to claim I can predict the bottom or indeed the the short term price movements with any accuracy. I'll leave that hubris to the collectors of noddy badges.

What I am investing in is the potential of PEN in the mid to long term. The thesis is the uranium bull market and the vehicles I choose are those which I believe have the best potential to take advantage of the different phases of that bull market.

PEN is a producer. It's streets ahead of any explorer. If it's plans come to fruition the timing looks to be exactly right to take advantage of the now multilaterally predicted 2019 parabolic price increase.

If the ducks line up PEN (and other similar like PDN) will be one of the early winners. I'm in DYL and VMY too for the potential (and possibly overly optimistic) multibagger potential if the market loses it's mind like last time.

Of course if uranium doesn't have the rip your face off rally most people seem to think - then we're in different territory. In that world if PEN doesn't get the pH results it has foreshadowed then it's probably doomed to languish at current levels if it survives at all.