"Less demand brings about a cheaper spot price. A cheaper spot price brings about smaller sales margins from U producers"
This is precisely PEN's strength. Opex and Capex at the bottom end of the range for U producers. PEN can withstand a much bigger drop in U price than most projects. As projects are pulled offline due to poor margins supply will reduce. PEN will still produce albeit at a lower profit margin but be in a position to capitalize on recovering U prices when supply/demand ration has rebalanced.
a pivotal weekend, page-60
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