This contract to process resin was assumed by UEC through the acquisition of the Uranium One processing facility in Q4 2021. PEN had ample time to discuss changing the contract if there were terms that would put Lance at risk. The CEO of UEC is a shrewd operator so this is not completely unexpected as they are sitting on $US100M+ in cash/liquid assets so the toll milling revenue is probably not material to UEC.
Ann: PEN delays Production & Accelerates Inhouse Resin Processing, page-27
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