WA Gov't Bans further Uranium mines., page-9

I dont think it is a dire as you suggest, as a large component of the debt converts to equity (albeit at a much higher price). This is also the sticking point for PEN completing a NYSE listing due to the overhang of potential converting stock.

I think that the financial metrics should improve with a positive cash flow quarter. At the very least, they are heading in the right direction.

I think the debt situation is a good point to raise as it doesn't get mentioned much and it probably has contributed to the low share price; however, I think that the retreat of the U price in the last two months has caused havoc in the whole U Universe of stocks.

All in my opinion and please do your own research.