Great news all round! I am looking forward to my additional 200,000 shares @ AUD15c, hopefully the price will go lower and I will buy more. Honestly this is by far my top holding with IMO the lowest risk out of 17 Uranium stocks in my portfolio
. Some stocks could definately go higher but PEN is as far as I am concecrned de-risked. The current move buying an additional 300,000 Ibs U308 is a master stroke, the price could easily double next year. Contracts already in place until 2030, net positive cash flow, no borrowings they have Uranium in the ground and we are going to see a significantly lower cost of production than before. I expect to hear a restart decision is made this year once U prices accelerate, with Sprott on the sidelines expecting a significant rise in spot prices this year to easily pass $40/ Ib. The purchase of the additional 300,000 Ibs this round could easily contribute significantly to the funding required CAPEX of $6m to restart. The coming increase this year of SPOT prices will have a profound impact on U stocks with significant upside for both producers and near term producers.
