I don't think comparing PEN and BOE is silly at all, both are...

I don't think comparing PEN and BOE is silly at all, both are ISR restarts, safe jurisdictions

Yes, there are differences (eg management), but uranium market is so small, there's only limited companies you can compare against

Now we're not saying PEN should be $2.5B market cap like BOE is either, but IMO, the difference shouldn't be 10x the size of PEN ($250M market cap), so either BOE is overvalued or PEN is undervalued

I haven't done proper figures but should BOE be more like 5-6x PEN?

Shaw and Partners has price target:

BOE - hold - $4.75 (-12%)

PEN - buy - 34c (+180%)

So it appears they think the difference between the two companies shouldn't be as high as 10x either

Would be interesting to see your back of envelope numbers