It is guess work, but looking at Hartleys Sep report, there comparisons with other North American ISR companies has at least given us a good idea of what Pen should be trading at, once Jorc comes in.
Comparatives(Snippet from report) ...................... Analysis of US/Canadian listed peers, Uranerz, UR-Energy, Powertech and Uranium Energy Corp, indicates that ISR companies trade on an average multiple of A$13 per lb of inferred resource in North America. ......................
Assuming Pen is fully diluted and using the multiple average of A$13 per lb, here are some rough valuations:
A 10ml lb resource gives a valuation of $130m or 7.5cps.
A 15ml lb resource gives a valuation of $195m or 11cps.
A 20ml lb resource gives a valuation of $260m or 15cps.
A 25ml lb resource gives a valuation of $325m or 19cps.
And thats not even taking Karoo into consideration.
As for dec 2011, anyones guess what the value would be, potentially being so close to production.
NK
PEN Price at posting:
4.4¢ Sentiment: None Disclosure: Held
