Well, I suppose we'll find out this year whether the project is feasible or not. There should be more preliminary results in a few months' time. At the moment, there is too much speculation and guesses. Note that the document mentions 1 of the 3 demonstration patterns successfully reached the target pH. So there is hope. Laying out the risk reward here:
- Project fails -> SP goes to zero.
- Project succeeds -> SP goes to $1 (assuming a U price of $60 per lb) or even $3 (assuming a U price of $90 per lb).
As you can see, PEN is currently a high risk - high reward play. GLTAH.
Ann: Low pH Field Demonstration Update, page-102
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