Ann: Presentation - DFS Completed for Lance, page-18

Understand you crunching numbers and its pretty clear with Wayne and his team they also have had pen to paper for a number of years..

So you have to say to yourself.

Have the team got its ducks in place for a coming deficit of U within a sovereign State that clearly on a path to support local production?

Reviewing this again might be of help for those that might be a little shakey on the conviction that this team know what they are doing .

"Wayne Heili: Today's Uranium market is incentivizing higher production rates, I'll put that right up front. We're considering ramping our project up to a higher production rate very quickly in our revised Feasibility Study. That's one of the options that we may come out with. The plant today is built for that 1.1Mlbs per year production rate so anything above 1.1Mlbs per year will require some more upfront capital. But the beauty of Lance today is, as you pointed up, extremely low capital to transition our facility from alkaline and to low pH. The facility was built in 2015, it's a modern facility that doesn't have any old parts and pieces that need to be replaced. We just had to transition wetted parts to make sure that they're compatible with the low pH solutions, not just the alkaline solutions because there's no corrosivity differences in those solutions. Because it's not much of an investment, it's also a very rapid timeframe. Our 2018 Feasibility Study indicated that we were around $6M in 6-months, from an investment decision back into production as low pH. We set up a modern facility that has a very low capital requirement in a very short timeframe to put the project back into production."

plus another good paragraph..

Wayne Heili: It hasn't been decided yet. I mean, the price of Uranium has been very dynamic in recent months. We've seen the price now, the spot price reaching $60 a pound, I can tell you when we did the 2018 Feasibility Study that our long-term price for Uranium was $50. Today, the price of Uranium is over what our 2018 Feasibility Study mark was. Clearly, we have justification for using higher pricing in our model. So NPV and IRR are going to be reflective of better Uranium markets that we see in the days ahead. This is a good time. I'll tell you, with inflationary pressures, with the change in Uranium price, Uranium has been outpacing inflation, that's good for Uranium producers. Anybody who hasn't updated their Feasibility Studies since the middle of 2021, really probably should sit down and do so because the world has been changing very quickly.

source:
https://www.cruxinvestor.com/articles/transcript-peninsula-energy-asx-pen-technical-analysis-and-due-diligence

also your a little out on your 50% uplift in spot prices..more like 25%.. which around this time last year it shot too with out a worry.

if we are to believe most of the reports that have come out from within industry, this time next year we are looking at a whole different demand presence thus..goes back to research and figuring out..

do you want to invest in a company that has a good experienced team with a project pretty well ready to go with cash in bank and pounds in storage?

.. in a favorable sovereign state with local demand and tax incentives?

...or a lovely looking take over target at the right price...

or an African type nation that still can be rug pulled by slimey Chinese politics?

noted: no slant on ether of the above nations..but history does show its true colours within geopolitics and where money is concerned.