u308 is the future, page-29

Hangseng, BKY has been shredded in the past few months but I'm curious if buying a small ball holding at its current price has crossed your mind?

They have been troubled by a challenge on their feasibility study by ENUSA due to a socio-economic reason if I am not mistaken. As a result of this, their federal mining license is at risk of being lost and this is the reason for the share price dropping the best part of 75% in half a year. The worst case scenario is they just keep their local mining license but continue with developments as per their BFS and should commence production about 6 months after PEN.

At current prices...

Worst Case (only keep the local mining license): $52M cash + 17Mlb resource -> EV = $0.7/lb
Best Case (federal mining license approved): ~$22M cash + 75Mlb resource -> EV = $0.56/lb

PEN is currently trading at about $3.50/lb

This is not a cross promotion or ramp by the way. Just asking for your opinion.