Ann: A$15 Million Equity Raise for Uranium Purchase, page-156

If you really know and understand which I doubt and only believe whichever ceo suits you ! JB has his own agenda dyl is many years many years and many many dollars needed before production same as your vmy and is in no hurry and wants the spot price low ! So he can grow the company with a. M&A and collect undervalued assets ? But it backfired for him ..investor rick rule and JB had a falling out Rick rule waned dyl to make acquisitions a few years back when the cap of miners was very cheap but jb wanted to wait ? and now it gone bang and it's very hard to find JB undervalued assets
So the investment exploration capitol partners ( sprott ) which had over 10% in dyl sold out of the developer DYL and invested in producer boss resources !
JB the god of uranium well ? A reminder Last boom we all know super star paladin pdn the spot price exploded pdn went from explorer to producer and built 2 mines langer Heinrich and kayelekera leveraged massive dept like all developers need to do to get that far if spot stay over $55lb all good for pdn but Japan changed that spot dropped and big problems for pdn dept repayment can't be paid pdn on the way to administration it was a 11th hour save shareholders lost 99% of there holdings pdn lost 25% of langer Heinrich' mine to the Chinese had a fire sale of assets sold kayelekera lotus has it now pdn last raise of $220m just cleaned the remaining dept !
So the story is any uranium DEVELOPER going into production will carry big dept ! and want spot at a certain price to meet repayments I'm glad PEN is not in that boat ! but one thing I know nothing is certain !!!