Observation on the DFS outcome
Many are suggesting it will be poor
During the negotiations with Nu Core, one would think that PEN have a fair idea of the outcome
As a result they have negotiated "A$15,000,000 share placement to USA based NuCore Energy at a Premium to
VWAP
? 10 day VWAP pricing period commences after the release of the Lance Project
DFS"
Why do they want to use the 10 day post DFS period to ascertain price ??
a Maximise dilution due to the drop in SP as a result of a crappy DFS
or
b
Minimise the dilution and maximise return to shareholders as a result of a strong DFS
Pretty simple answer really. If they had a crappy report and were getting in bed with Nu core offering a discount due to a crappy report, it would be unethical, illegal etc
PEN are expecting a solid rally off the report
No shadows to jump at here, just patience maintained
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chart observations 7.7, page-12
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