How many "pounds in the ground" of uranium do you need to make an ISR mine feasible?
Because ISR is so much cheaper than many conventional mining techniques ... an ISR mine doesn't require as many "pounds in the ground" of uranium to make a mine economically viable. An ISR mine may require as little as 6 million pounds in the ground to go into production.
How much does it cost?
An ISR processing plant costs between US$10 million and US$35 million and can produce between 1 and 2 million pounds of uranium per year at an operating cost of ~ US$25/lb. On the other hand, conventional mines cost between $US130 million to $US150 million at an operating cost of ~ US$80/lb, but can produce 5 to 8 million pounds per year.
http://www.crosshairexploration.com/s/InSitu.asp
As Hangseng has said numerous times before:
PEN has used a 200ppm cut-off of which is the norm for Insitu-recovery uranium projects. If they used a 100ppm cutoff the resource would now be showing around 80m/lbs of U3O8.
Where's the vanadium? How much have you attributed for that? Zero!
How much value have you attributed to PEN's strategic partnering, or to NuCore and Boswell? I particularly don't care what the market thinks, if they attribute no value to the people who run the show, I'll just take advantage of that.
In this "game" you need courage, not direction. To be able to smell a bargain. To have a robust handle on facts, not fiction.
In baseball terms, I'm expecting nothing less than a grand slam from this DFS; and to stick with the analogy, I'll be using my bat sparingly, a la Warren Buffett, to hit this thing where it belongs: over the grandstands, into the car park, all the way down the highway.
PEN Price at posting:
7.1¢ Sentiment: LT Buy Disclosure: Held
