What I was saying, was I disagree with you when you say "PEN will go broke", as per my reasons in my last post.
What I was saying, was explorers who aren't advanced as PEN has greater chance of going broke than PEN. How far off are they (explorers in general) from making a single dollar from U sales? 5 years, 7 years? How much capex do they further require?
PEN just further guaranteed $6M-$8M in revenue from today's announcement.
Not saying you can't make money investing in explorers, just more risk IMO. If you're happy to buy U explorers and wait for their JORCs, DFS, EIS, applications for permits (eg to mine), earthworks/construction of a processing plant (how much does a processing plant cost to construct?) etc.. then by all means, good luck and each to their own investing strategy.
I'm just glad PEN has past all that... I'll stick to uranium producers, especially ones that are debt free, cash in the bank, and with 10 year supply contracts in place.
I'm not happy with the share price... but am I worried? Not at all.
Do I think the share price will rise from here, especially if I'm happy to hang around for a few years? Yes, easily.
All IMO
PEN Price at posting:
6.1¢ Sentiment: Buy Disclosure: Held
