if PEN had waited a few more years to start production the sp...

if PEN had waited a few more years to start production the sp would likely be higher. Bunker down until a real bull market emerges. Now they committed to offtakes they may not be able to deliver upon

U market has been going sideways to down past 12 months. I reckon it needs a good wash out, new lows and some panic before settling and moving back up.
SMR's will drive the next bull imo unless there is a black swan event like flooding of Macrthur or something like that.