Jorc is required for 2nd stage of the new funding arrangement (should they choose to utilise it) but is not required to commence production.
PEN could utilise a portion of the 1st stage of the new funding to construct a wellfield IEU at Ross and toll via nearby Uranerz or similar.
It is a fallacy that Jorc is required to mine, it is required for funding and announcing to market. If PEN had all permitting in place and their own funds they could commence right now at Ross and Barber.
Do your homework people PEN will be producing sooner than we think IMO. Motty is on to it...
pen, uranerz toll milling (motty)
ceo of pen - webcast on $50m equity facility, page-36
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