I have held faith with the current management team and Board...

I have held faith with the current management team and Board after, what I have to say has been a very mediocre development phase. Rubbery schedules, lack of detail and regular capital raises has placed constant downward pressure on the SP when compared to its peers which have performed strongly since the 2020 lows.

However this screw-up is the last straw for me! Priority moves to an exit from PEN in favour of a more capable management team. On what planet does a new and vulnerable business rely entirely on a competitor for a critical part of the production process? Accepting this exposure MAY be acceptable if you had a fall back option to replace third-party capacity. Its clear that there was no alternative in this case which is why the project has now come to a screeching halt.

Alarmingly, now, there is absolutely no guidance as to the cost or timing for building its own resin facility.
As a very minimum we shoiuld expect that in the next month the company provides guidance on the new development schedule, including any cash shortfall that will occur with this re-scheduling of the project's development timeline. Otherwise, in the absence of clarity and some self reflection by management the price will retrace to below 10c leading to another major raise in the 5-7c range.

Please, please Wayne, no more pontificating on how talented your team is. Your current team (including the Board) did not manage this basic risk so you should take internal responsibility, UEC should not be blamed for exercising leverage and exploiting a vulnerability you gave them.

No exit here in the short to medium term. Hopefully, a higher standard of management expertise will be applied to the next publicised development plan and the shareprice recover back to high teens which unfortunately is about as good as we can expect.