Definately no more learned, I would say Dhuy is the one to ask, but imo people sell for all different reasons, as some will use the rally to get off and dust themself down, others will treat the volume and interest as a good thing.
Either way Pen is still going about its business, and thats keeping their shareholders fully informed about their current focus. They are slowly but surely plugging along, and with any luck they will be producing U3O8 in less than 2 years from now.
Biggest challenge for them will be funding, but with India now hitting the U.S market it should put a lot of interest back into the U.S uranium sector, and inturn a lot of eyes will be focussing on "Lance". Especially given that its looking very large and more importantly, "ISR"(cheap) even Blr don't have that luxury, thats why imo they are having to prove up so much, so as to make it a viable project, once you take into consideration the costs involved with conventional mining.
A good article here on what India is about to embark on.
Certain snippets from the article like these have got to give the likes of Pen a lot of encouragment. "The next step is to ensure fuel supplies for our ongoing and planned projects. We need long-term supplies and we're looking to buy stakes in Assets." NPCIL plans to place orders for up to 2000 tonnes of uranium before the end of 2008, according to Jain. and this one especially, He added that the company is also examining possible joint ventures in mining and acquiring stakes in uranium mines that have not yet been developed due to lack of funds.
The recent market turmoil has not helped things but imo it will all start falling into place in time, they are going about the permitting the right and proper way that is expected from the wyoming government. Once they get past that stage we should be sitting in a much better position.
Cheers NK
PEN Price at posting:
1.8¢ Sentiment: None Disclosure: Held
