uranium spot crashes to 31.50, page-20

So many PEN supporters keep refering back to their long term sales contract that they have in place at $74/lb but no one seems to highlight the fact that the contract is only for 1.15mlbs OVER 7 YEARS. That only works out to be around 164k lbs per annum. The contract was for a WEIGHTED AVERAGE PRICE of $74/lb. As no details have been provided by the company on how this weighted average is calculated, there is a possibility that PEN will not be securing a price of $74/lb in their first few years of sales.

Will be interesting to see how PEN performs in light of the continued fall in the price of uranium. I personally doubt it will be immune as many seem to be stating. The SML is definitely a bonus and should assist them in the longer term though.

Amazing to watch the uranium price continue to fall. Glad i sold out of all my uranium shares immediately after Fukushima.