Hey Trees,Good question, and I don't know either. But I like to...

Hey Trees,

Good question, and I don't know either. But I like to look at what other companies have done that are in the same area.

So just looking at another similar ISR company(Uranerz)in the Powder River Basin and when they signed off on sales of uranium with US utilities, is in my view at least something to go off.

Uranerz are estimating that production will be sometime in 2011, not sure when, but their objective is to Commence commercial production by late 2011 or 2012. Doesn't sound that far off Pens estimated timeline of production.


Uranerz signed off their first long term contract in July 09 with Exelon and their second long term contract in Aug 09 with another large US utility. I think thats about 2 or more years before estimated production.

This is from their presentation
Uranerz has entered into uranium sales agreements with 2 major nuclear operators in the US, including Exelon.
Exelon operates the largest nuclear fleet in US and the third largest fleet in the world.
The agreements are long-term contracts with deliveries over a five year period.

NK