Ann: Update on Central Processing Plant Commissioning, page-415

Tomas.Yes I agree the spot price of uranium is one aspect ...However as we both know investing in Uranium covers a large number of Macro as well as Micro factors.
I don't believe one factor should take precedent over future developments ..especially when the main uranium market is in long dated contracts signed by utilities and the spot uranium market is much much smaller.

However as we know traders turn on one cent pieces and spot Uranium prices are used by many traders as their main proxy for buying and selling to each other.

My view is that this will change as the limited uranium supply will be unable to meet expanding demand and the spot price and contract prices will be driven up by the Demand expansion relative to the relatively inelastic short term and medium term supply.

According to the International Uranium Association Demand /Supply imbalance will hit the market in late 2025... just as Pen is building up production for its deliveries at already pre-arranged good basic contract prices....which may or may not include adjustments upwards based on the general level of new contracted prices??

Hopefully by late 2025 we will see a strong recovery in the price of Uranium and the Uranium sector and this should boost share prices including Pen ..Pen may prove to be one of the shares with the highest percentage gain in price and I believe at the end of the day .. it's a percentage game !!??
Off course Tomas all this remains to be seen!!!
All the Best to All