I fully expect this to be the case. Wayne Heili never ruled out...

I fully expect this to be the case. Wayne Heili never ruled out raising more capital, he only downplayed the size of how much capital is needed. I suspect the capital raising could have been avoided by selling inventory to fund a restart but he simply does not want to do that at the current uranium price, ie they want to remain leveraged to the price of uranium making that bet with more of our money. That was a good decision last time (using a capital raising to buy inventory) hopefully it is a good decision to hold onto inventory.

I'm not particularly pessimistic about the capital raising but the way PEN does its capital raising is a slap in the face for large holders. I have over half a million worth of PEN and and expect to only get a few thousand dollars placed.