I realise the price of Uranium is very low at the moment which has affected a lot of stocks. However it is hard to justify such a low sp for PEN imho due to a number of factors.
1/ The SML is going to be issued in March 2014 which is the last requirement before we are able to commence production.
2/ We have off-take agreements in place with a u3o8 price well above the spot price.
3/ We have funding in place to allow for the cost of building the required infrastructure, some of which has already started.
4/ We have already proved up a large amount of u3o8 which will supply production for many years and there is also a large amount of reserves still to be proven.
5/ Whilst uranium is not the flavour of the month at the moment, its time will surely come. A world wide shortage is looming and the spot price must rise imho.
6/ The other positive is that once we get the sml it is highly likely that one of the big producers, e.g Cameco, will try and take us over hopefully at a significant increase to the current sp.
I have been in this stock for a few years at a significant loss, however I can still see a light at the end of the tunnel and I expect to recoup my money plus interest next year when we are producing.
Good luck to all holders.
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8.2¢ |
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-0.002(2.38%) |
Mkt cap ! $261.3M |
Open | High | Low | Value | Volume |
8.5¢ | 8.6¢ | 8.1¢ | $536.5K | 6.476M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 30000 | 8.2¢ |
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Price($) | Vol. | No. |
---|---|---|
8.3¢ | 25000 | 1 |
View Market Depth
No. | Vol. | Price($) |
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1 | 30000 | 0.082 |
1 | 30001 | 0.081 |
10 | 2384093 | 0.080 |
2 | 10164 | 0.079 |
1 | 100000 | 0.078 |
Price($) | Vol. | No. |
---|---|---|
0.083 | 25000 | 1 |
0.084 | 20000 | 1 |
0.085 | 540000 | 3 |
0.086 | 435698 | 4 |
0.087 | 912531 | 4 |
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