I'd like to get a better idea of the potential market cap of...

I'd like to get a better idea of the potential market cap of PEN.

Looking at other mining stocks, it seems they don't actually need to even have a positive EPS to mantain multi billion $ market caps. Let alone they run PE's of up to 40x REVENUE - not profit! (eg. PDN, AQA)

So, for PEN, my conservative estimates have so far gone something like this:


Say PEN gets to mine, and next year they produce 1 million lbs U308. Sell it for say $60/lb - costs of $30/lb.

Thats $30 mill 2012. Lets say 2013 production 2 mill and 2014 3 million lbs. So $60mill then $90mill profit each year following.

Times 2012 profit by 10 (PE ratio of 10) and thats about $300 million market cap. Makes you feel perhaps PEN wouldn't get too much higher than presently (at least for another year or two).

I know that profits soon after will be much higher, however that might be negated by startup costs, etc.

I also believe PEN has 100+ million lbs U3O8, could have far more (and my PE ratio and profit/lb could of course be much higher), but doesn't valuation come down to profit per annum, not Net Project Value?