I reckon the upward momentum for PEN is due to the following....

I reckon the upward momentum for PEN is due to the following. (small - caps site)
https://*********.com.au/uranium-stocks-take-off-us-senate-committee-strategic-reserve/

It reads as follows.
"The new bill, which will almost certainly pass the whole US Senate because it has bipartisan support, excludes any Chinese or Russian company involvement in supplying uranium to the stockpile.But Australia, which already supplies uranium to American utilities, will almost certainly benefit from the US move, both in terms of uranium sales and exploration efforts in US."

This does look very promising - from what I can tell all uranium stocks were on fire today..