I watched PEN on andoff from 12 years ago. Never bought until...

I watched PEN on andoff from 12 years ago. Never bought until last week.I think itis a good company but everyone in Uranium suffered badly.

Iremember stocks like AFR going to $1 with one of directorsbuying like there was no tomorrow. Also remember low grade depositsin Namibia like MEY going to insane capitalisations. I am told muchof Namibia is basically a low grade Uranium deposit.

So,what I am saying is, that obviously, everyone got burnt. Investors inPEN are not the only ones.

PEN's operating costs even onAlkaline are decent, it is just a shame that U price is so crazilylow.

Companymanagement is sound and an underwritten renounceable Rightsissue is a fair call. There are decent shareholders on the registerthat will not put money into anything without solid research (SOL asan example).

Here is a scenario that I amespecially hoping for:
Trump loses the election(counter-intuitively, Trump is bad for U price because he is okwith burning fossil fuels)
USA comes to the table with someCO2 emission reductions goals and generally stops being stupid
Thereis no chance for wind and solar (with their pathetic power density)to substitute gas and coal powered energy.

Wind hascurrently a special treatment in USA where it must be bought first atthe time of availability - this is being revised now as it is grosslyunfair to nuclear operators. It could be a perfect storm in 2021.

Soin the USA, we need the ratio of nuclear to start rising beyond20% where it sat for ages.

Even if the above doesn't quiteoccur, many decisions are made on the state level, which are becominggreener and greener. I think downside is limited.

Regardless,with U at $50 per pound, PEN is starting to look decent. At $70 it isa gold mine. Worth a punt IMO.

Company spent hundreds ofmillions on development and permits and currently has, basically, areasonable mine in a good jurisdiction. And no major capexrequirement for a while.