I have reviewed the prospectus. No doubt this move is...

I have reviewed the prospectus. No doubt this move is transformational.

For existing shareholders that can not take up the offer it will be significantly dilutive. I feel for them as not everyone will be able to participate.

I have every intention of taking up my full entitlement and I will be applying to double it. I will be re-structuring my portfolio to do this. The opportunity here IMO is huge for PEN as risk is significantly diminished looking at the NFWG, deficit in the Uranium market and world production volume required for the next few years puts us very much in a bull market.

The company being entirely debt free is extremely positive particularly with an existing healthy contract book and clearly they are working with existing customers to sign additional contracts.

As is often the case with CR news like this is I would not be surprised it is followed quite soon by good news and for me while extremely dilutive it does offer an amazing entry point and increases my shareholding to benefit significantly more to the upside in the months & years ahead. GLA