at 6c PEN capped ar around USD 120 million. If someone believes...

at 6c PEN capped ar around USD 120 million. If someone believes it can produce 1.5 million pounds plus in a few years its too cheap especially at $150/lb uranium. Not long ago PEN was trading at 13c. Now 10c could likely take the whole thing

As negative as the annoncement was it also included upside which a buyer could take into account

"Approval of the Permit and the License will allow the Company to conduct production operations
throughout the Kendrick area. The Ross and Kendrick areas collectively hold a JORC compliant resource
base of 26.2 Mlbs U3O8, equating to at least 10 years of production ready resources.

The current Lance production model presently excludes the contiguous Barber Resource Area, which is
not yet licensed for production. The expanded plant functionality will be available to process future output
from the 31.9 Mlbs U3O8 resource base at Barber, highlighting the opportunity for significant future growth
at the Lance Projects."