At the very least, it is hard to interpret this as bad news in any way, shape or form. Speculation around SP dropping (which may occur) will revolve (IMO) around the spot price. Seems all US peers have been dropping in line with URA which seemed to get ahead of itself in price. I'd be looking for a turnaround there (URA) in next day or two if the spot behaves itself.
Does anyone have the tools (calculator and laptop) to be able to do valuation of URA as compares to current spot price. Would be interesting to see how far the premium got out in advance of the (spot) price.
Cheers
Gav
PEN Price at posting:
66.0¢ Sentiment: None Disclosure: Held
