Research Captital 39 cent Target, page-34

The Lance Projects are located on the North-East flank of the Powder River Basin in Wyoming, USA. The original NuBeth Joint Venture between Nuclear Dynamics Inc, Bethlehem Steel Corporation and later Pacific Power and Hydro (NuBeth JV), discovered thirteen substantial zones of uranium mineralization associated with an extensive system of roll fronts confirmed by drilling between 1970 and 1979. As part of this exploration program, the NuBeth JV drilled more than 5,000 exploration and development holes, totaling in excess of 997,375 yards (912,000 meters). A proprietary database of the historic drilling and pilot plant data was acquired by Peninsula in 2007, defining a then relatively unknown uranium district of which Peninsula is now the dominant mineral rights holder.The Company has explored only part of this area since 2007 and has already delineated over 53.7mlbs of U3O8 JORC Code (2012) compliant resource.The Lance Projects have 190 line miles (305 kilometers) of identified roll fronts and an exploration target of 104-163mlbs U3O8, which is in addition to the JORC Code (2012) compliant resource. These roll fronts stretch over 31 miles (50 kilometers) north-south and are open to the north, south and west.


I have posted about this before.
In addition to the existing JORC resource of 53.7 million pounds there is potential for another 104-163 million ponds based on 305 km of contiguous roll fronts.
I think there should be the possibility to merge on favourable terms with another near term producer.