Uranium, like buying oil at $20 a barrel, page-36

PEN - best leverage out.

Current cash position approx 28.7M USD
Current debt (via convertible note that matues in 2 years) 17M USD
Current forward sales booked over next 10 years : 6.5 Million pounds at an average forward price of $50 USD per pound = approx $325 Million USD
Current market cap: $58 Million AUD.
Shares on issue: 234 M

Catalyst - recent selling presure from Uranium X was removed last week with the stock crossed to Australian brokers, furthermore a global recovery in in the Uranium price and a supply deficit of the commodity is due to begin within the next 12 months.

The biggest benefit to PEN in my opinion is the fact they are operational and are currently making money.. all the U companies in Australia will be chomping at the bit to get into production but given the political situation in Australia I can’t see any of these companies actually booking revenue until ateast 2020.

There is a plethora of positive Uranium news flowing at the moment..

https://www.copyright link/street-talk/mbo...boutique-with-a-uranium-twist-20180610-h117j7

All my opinion and as always DYOR. I have been buying for the last week with a short term SP target of .45c and a longer term target of around $1.50