re: Ann: Maiden JORC Compliant Resource Estim... Just about all U308 explorers, developers and miners have been weak for many months now...PDN, EXT, MEY, DYL...and the list goes on, and on.
The lack of sp activity, with this announcement, does not surprise me.
There is been little translation, of all the media news on numbers of reactors planned and being built, to an upwards lift in the U3 price. The Uranium sector is just plain flat at present. Investor and fund interest is focused elsewhere...coal, iron ore..to name a few.
The spot market for U308 is weak; a new nuke arms treaty has been agreed to (more secondary uranium supply coming). More new supply keeps coming to the market, and the majors have significant expansion plans underway.
I think the subdued market reaction today, is more a reflection on the sector generally, than the market's particular view of PEN.
Good luck to all long term holders.
Cheers, SKip
Ann: Maiden JORC Compliant Resource Estimate in e, page-31
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