Ann: Lance Project Low-pH Field Demonstration and Company Update, page-61

Originally posted by tutes
the buying of spot uranium is only until end of 2022.. until further advised


i believe the company and Wayne Heili are confident the pH chemistry will be a success by then

from today’s company update, it sounds like it’s all on track.

another 6-9 months of trials so they’ll continue to learn and perfect the process

and they can start production before the trials end if they want​

the buying of uranium at low price and selling at a higher price (eg $51) is all FIXED and locked in until 2022, so doesn’t affect PEN in that regard, even if uranium price was to go to say $100 before 2022

that’s why PEN accurately knows that they’ll be making $8M-$10M next year

after today’s announcement, I’m confident they’ll have perfected the low pH process by end of 2022

rising spot price will hopefully mean PEN will be signing new supply contracts soon at a high price