Ann: Presentation - DFS Completed for Lance, page-46

Pen done the DFS and there was plenty of noise ?
It was done at the highest inflation rate that the US have had in the last 40 years at about 9%
the dfs cost was always going to come in higher and if the US control and lower the inflation rate the $62lb will be lower as well

so $62 lb uranium by all means is not a burden and it’s nowhere near the peak uranium price !! and there will be NO new mines or wheels turning to production to rush and come on line at this price just months back spot hit $64lb and no one lifted a finger !!

These inflationary times has pushed up the cost of everything fuel food energy and labour!!!
most of the larger developed resources in Africa needed about $75lb at last study there new study will have there cost come in higher even with lower labour cost

so spot price at these levels nothing will happen no miner anywhere will build a mine and no new product !

so all this noise from non holders about pen value means nothing because the spot has not peaked and far from it


pen has 56mlb and a good possibility to expand that amount and so will the current spot price. !