example of company with large issued capital, page-4

Excellent posts MMM

Just to be clear though the Lance Capex has never been bantered at $53M, it is PEN's stated position at present in the PFS and as stated in the Shaw Stockbroking conference on the 6/12/2010.

I enjoy going back over reports and presentations and I pick up on small snippets that start to be come clear.

This one in particular...

"Look at near production & acquisition opportunities in areas of existing operation"

The $100M PEN has access to I doubt will ever be used except as evidence of a surety bond restoration guaranteee. I am almost certain the Capex will be funded via bankers or via takeoff arrangements.

Regardless of my thoughts, it is becoming clear that PEN management is seeking to turn PEN into a major producer of uranium.

I also noted that Karoo is indicated as having "Established 8mlbs in-situ U3O8"
The amount never caught my eye, but the "in-situ" did.


http://www.shawstock.com.au/files/3_PEN%20External%20Investor%20Update%20-%20December%202010%20-%20Shaws.pdf