Yeah but PEN isn't looking for uranium in Canada...Its Lance project has previously been in production (albeit produced f* all):
Lance Projects Quarterly Production
The deposit isn't that big and
ISR is finicky; the economics for getting the mine restarted were always dubious. After UEC recently pulled the pin on giving PEN access to its processing mill, PEN is now forced to develop a mill in-house – making the numbers look even worse (or fwiw imo making the restart completely unfeasible unless the price of U308 truly moons).
Anyway PEN is a junior developer with a past producing mine in the US Lower 48. T92 is a junior explorer in the Athabasca Basin. Surely the fairer/more useful comparison in terms mc etc would be with 92E (another ASX-listed junior looking for uranium in the Athabasca)?
