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25/06/20
15:13
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Originally posted by Crownjewels:
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I have been watching with interest the developments of PEN over the past few months, and with greater focus in the past few weeks following the news of the US DOE $150 Million per year buying program over the next 10 years. Whilst on the surface PEN looks to benefit from this, it would seem to me they don’t have the cash to do so and whilst the recent AUD$43 Million does get them debt free it certainly doesn’t get them to a position to take advantage of this buy program???? The recent presentation highlights (briefly) this will take another US$58 Million in equity to get them to a stage of producing 2.3Mlbs p.a. I am interested to see just where and when others think this will happen and at what SP given its trading now at 7 cents and a SUB $30 Million MC???? As said whilst on the surface it looks promising I feel the dilutionary impact on current holders will be telling!! Can anyone tell me if I am missing something here?
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Your premise is questionable. The $150 million per year buying program is simply a proposed budget item floated by Trump.