uranium spot crashes to 31.50, page-31

Lol Hangseng,

You stated:
"binbin is wrong, as you are, you even more so as you aren't even aware of the contract in place."

Please point out exactly which part of my post is wrong.

Reading your post, i sometimes wonder whether you know as much as you try to make everyone think you do.

I am amazed that you actually think that PEN's sales contract price of $74/lb is based on the PFS. Do you even know what a PFS is? It is a document prepared internally by PEN so to suggest that the parties that entered into the sales agreement with PEN used the PFS as a reference to determine the price they were willing to pay at the time they entered into the contract is beyond ridiculous.

You also state that details of how the weighted average price is calculated is not difficult to find (if i apparently cared to look). Perhaps you could show me exactly where this detail is. The sales contract is over 7 years. What is the agreed price and quantity the buyers have agreed to in year 1? How about year 2? Are you implying from your post that you believe PEN will be getting $74/lb every single year from year 1 to year 7? Are you sure the quantities they have to deliver are also equally divided over the 7 years? If so, why did PEN use the term WEIGHTED AVERAGE PRICE of $74/lb?

If anything, i think all your post has successfully highlighted is the fact that PEN's PFS was clearly overly optimistic when they stated (and you highlighted) "pricing in the range of US$65-$75 per pound U3O8 has been used in the PFS model" when the current long term price has just fallen below US$50/lb and Paladin just reported that their average sales price achieved during the financial year was US$36.82/lb.

Clearly, you have learned nothing from Fukushima and still think that you are always right eventhough you got it SO wrong about the impact of Fukushima and how long PEN would take to get their SML.