selling at $53/lb doesn't matter when you're buying it for $30/lb
sure you might be able to sign a contract today to sell for say $70/lb but then you'll be buying it at $50/lb
$53/lb was a genius move by the previous CEO at the time (six years ago!?) when uranium price was low - and the revenue definitely helped PEN through the past years when uranium wasn't in the spotlight (like it is now)
anyway, what matters is that they're currently buying it for $30/lb and selling it for $53/lb, so they're making up to $8M-$9M this year from the sales.. all the explorer/developers would kill for that kind of income
selling at $53/lb doesn't matter when you're buying it for...
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