G'day HS
just catching up with all the posts. Your point:
"We are still a long way off the market generally understanding ISR. The single minded focus on conventional mining in the case of uranium mining and processing will prove the undoing of many more before this is over."
I have always felt (and I think you share this view) that once the market gets ISR it realises that JORC is actually not of the same importance as it is with conventional mining, and it will re-value PEN (hopefully along the lines of 3m pounds per annum at $US20 per pound profit (based on $25 life of mine opex... if that is about right) at current U308 prices = 60m profit per annum x pe of 10 = 45c a share.
Simplistic, maybe wrong, but in terms of valuation-smell-test this is what I reckon could happen IF the market gets ISR.
Just my oppinion of course, but I would be interested in your feedback HS... am I missing something etc.
Cheers, EE.
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