U price up to 33 month high, page-82

Yes, they sold 935,000 lbs for $19M or approximately $20/lb. If PEN had produced this uranium, they could have sold it into their much vaunted long term contracts for $54/lb. How is that a positive?

We'll have to agree to disagree. Geology means nothing if metallurgy turns out to be the fatal flaw. No one will see the value of the resource if it cannot be extracted. No two ways about Michael. The first thing prospective buyers will ask is "How's the metallurgy?" The answer at the moment is "Crap".

The only time metallurgy doesn't matter is if the parent company doesn't care about processing costs and is just after the uranium, i.e. their focus is nuclear power generation rather than U3O8 production. Two players may fit this bill. Russia and China. Conspiracy theory.

Obviously, if this theory were to become reality, this doesn't help PEN investors.