capex and opex_benefits of isr and lance, page-36

I sincerely feel for the poor people on the PNN and BMN stocks, they have been hit very hard.

I will say, although I always expected a high Capex and Opex from conventional mining methods BMN caught me by surprise. That was extraordinarily high. They aren't dead though as the U price is expected to rise, but they won't be as profitable as first thought.

That all said and done, I have been saying for a very long time that high Capex/Opex operations such as has now been displayed would occur to the benefit of PEN.

We are still a long way off the market generally understanding ISR. The single minded focus on conventional mining in the case of uranium mining and processing will prove the undoing of many more before this is over.

The comparisons we have put up of late caused me to look closer at what some are doing with the cut-off grades. They are lowering them to display a higher resource on the back of lower average grades. Makes the figures look wonderful but are they real?

The proof will be in the PFS/DFS and BFS of each and every company as they occur. We have already seen the outcome of two.

I will stay with PEN. ISR provides a significant de-risking aspect and PEN has a proven location and the original successful plant design details to work up the PFS.

All we need is Jorc, Permit and BFS and we will then see what PEN really has.

Don't underestimate the value in what PEN has at Lance. DYOR