excellent summary of the risk parameters facing us now - and the difficult decisions at hand. How to judge the prospects of what is undoubtedly an excellent company now finding itself, through no fault of its own, in a hostile and perhaps increasingly hostile environment.
I have no idea how long it will take some of these political and social ramifications to work through the system.
But perhaps the timing will not be so bad for PEN.
I must admit that, since NRC publicly stated that their target approval date for the required Source Material Licence was mid-August 2013, I have been a bit doubtful of PEN's ability to meet their March 2012 production start-up milestone.
Almost certainly won't happen now - especially if U price drops to around $40 in the short term, as some are now predicting. This may delay, development capital commitments, offtake agreements etc. Also there will be the additional scrutiny on NRC - so probably no chance of fast tracking that particular permit.
The extra time may not be such a bad thing. So long as no-one is killed seriously injured by radiation leaks in Japan, the political fallout may be mainly worked through in a couple of years - clearing the air for PEN to sail into production in late 2013.
Just one of many possible scenarios. Many others - take your pick. I'm fairly sure PEN will have to adjust some of its milestones, at some stage though.
PEN Price at posting:
5.9¢ Sentiment: Hold Disclosure: Held
