At this price Pen is selling at book value .The short position...

At this price Pen is selling at book value .The short position is about 42 million shares ...less than a days trading.What we are seeing is an Institutional Temper Tantrum that will pass and the Rats and Mice are scared and jumping off the ship this too will pass...perhaps a great opportunity to start accumulation.

Pity Projections are a bit lower than first projected but I'm sure extra rigs will arrive and the numbers will re-aline or work out even higher in the years ahead.

Mining May adopt a scientific approach but very often initial targets are not met only to go on and surprise investors on the upside.

When you can buy at book value on any share you are doing very well and Pen is now at that level and shortly to start production just as the Uranium Price appears to have bottomed and turning up.

Yes some see the tumbler half full and others see it half empty . At book price I see great opportunity....As a matter of interest the present average estimate of price projections by
analysts is 21 cents while the price projection by Simply Wall Street is over 60c...as I said if you can buy at book value it's a good place to start accumulation and even better in a company with a strong bank balance of almost $70 million.

We are about to see the new Modular Reactors built in factories and delivered to sites going into production. Rolls Royce heads these developers of these new reactors built in months rather than years and the share price has already moved from £2 to £6.Added to that many new reactors being built are ready to come in to production in the next three years.

Already Submarines and Aircraft Carriers have very successfully used small reactors for many years .These reactors are fuelled once every thirty years and these new smaller Modular Reactors are already being planned to be used in factories in the USA...This would indicate in the years ahead a strong growth in the demand for uranium.

The present price of Pen in my opinion does not reflect a company on the verge of production with expected strong and growing cash flow ,solid resources and sold reserves with almost $70 in the bank in a strong and developing market for uranium in the years ahead.

Indeed at the present price Pen is a strong candidate for merger or buy out activity.

All the Best to All.