Always good to hear from Brandon Munro, so encourage people to watch
The quote "show me you're a producer and not a pretender" wasn't specifically mentioned for any particular company, but a general statement that there are teams out there that are talking their book/company and showing little or no action (eg. developers saying they'll be able to produce "x" pounds, yet still haven't gotten all their permitting, or made a FID, still lack financing, etc)
PEN this year is all about action:
1. PEN has previously produced uranium (idled producer restarting).. central processing plant already built, just an expansion of the current plant
2. Have raised necessary funds to now be fully funded until positive cash flow
3. Samuel Engineering (plant construction contractor) has already started construction.. hopefully we'll get regular updates
4. Latest presentation still shows PEN will be in production end of this year. The production timeline is clear (see below)
Will there be delays? Maybe, probably.. but "Samuel Engineering is intimately familiar with the site construction requirements as Samuel's Wyoming and Denver offices provided design engineering and advanced procurement services for the Project" (ASX announcement from 11/4/24)...
So hopefully all goes relatively smoothly and PEN should be producing within 7-8 months.
PEN Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
