Well Reichman I would hope that if Gus is negotiating sale contracts with Chinese that he wouldn't be committing to anything price wise at this stage and would only be committing to time and volume of supply. If he were it would have to be at the long term price which I think is around US$60 - 70/lb which would be quite acceptable as far as I am concerned considering it will be costing PEN somewhere around US$15 - 20 / lb to get it out of the ground.
I feel we are a bit far out to be putting pen to paper on supply contracts at this stage of the game but who knows. The name of the game here is to start supplying Uranium as soon as possible at a cheap rate of extraction for a long time and PEN has ticked both those boxes.Once the money starts to come in then other projects can be advanced at hopefully much higher rates.
green, page-13
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