"The first company we will look at is Bayswater with their Reno/Elkhorn properties. After something like 300 drill holes it has an est. 15mil lb U total and the company don't expect to mine until 2015 and that is after a $50mil capital cost. They are well into the permitting stage."
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Well just looking at this first comparison(Baywaters Reno creek) to start with, I think we need to put a few things into propective first. Because the big difference between the two which is not mentioned here is the fact that PEN is running everything in parallel with each other(As has been mentioned by Gus, and its not just the JORC that the new data is expediting). Rather than what normally happens in like of a one step at a time process. Which can certainly stretch out the time in getting to production.
"Make no mistake", PEN is fastracking the project.
Baywaters Environmental Baseline Studies for Reno creek are set to start in the January 2010, still no announcement yet. PENs started in June 08.
Baywaters NRC Source Material License for Reno creek set for mid 2011. PEN has a committment from WWC for the submission of the permitting application by the end of this year if not earlier.
Baywaters Feasability study on Reno creek is due to start in 2013 and finish in mid 2014. PEN are saying there's will be finished by the first half 2011.
Bayswaters Plant construction for Reno creek set to start in 2014 and first production set for mid 2014. PENs plant construction is set to start in the second half of 2011 and production due early 2012.
But I think its actually good that these other deposits and there sizes are getting highlighted, because I agree a first resource announcement of 15ml lbs in Wyoming will certainly get the attention of investors.
As we all know even a 5 million lb ISR operation can be very profitable. So I agree, we should be concentrating our attention to this first 15ml lbs. That alone looks like giving them huge profits for ten years or more.
Just trying to put a little more perspective on things.
NK
100mil lbs?, page-9
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