I agree, great news, and although its only 5 million shares, its...

I agree, great news, and although its only 5 million shares, its a start.
akq mentioned that they wanted the whole amount, 10ml. But the rest went to shareholders. So you would think that they are planning to build on there 5ml shares. What we want to start seeing is a number of these investors holding around 50-100ml shares each. Something like 5%. We need the register to tighten up to about 50% holdings in the top twenty.

I also agree with Wole, no more dilution please, I know Cashflow is the lifeblood for an explorer, but Pen are now approaching the home stretch, so when Gus mentioned in the brr, debt rather than more C/Rs, it sounded better to me.

What I would also like to see once Pen is in production and generating some serious cashflow, is to see Pen start doing a share buy back. This would Imo be part of the solution to helping fix the shares on issue, along with a strong top twenty holding.

And of course once in production a reward to Pens L/T shareholders, with a nice dividend at the end of each year.
I'm happy to start talking like this simply because in a little over 20 months from now, Pen will hopefully be a producer.

On another note about the uranium outlook. Given the uranium weakness of late and also, some mentions of it staying weak for a while. This news must be Imo just another nail in the coffin for some of these uranium miners with plans to bringing a med-high cost uranium mine into production, and might I add, it may well be the actual deathnail for some. Where are these guys going to get these massive multi million dollar loans for production in times of weak uranium prices. I even read that one project in Labrador was going to cost something like 984ml to get up and running. I hate to say it but its this sort of weakness in the sector that in the end will only bode well for the likes of Pen. So the fact that we keep hearing about weakness in the sector, certainly isnt keeping me awake at night.

I read somewhere(can't remember where now)but it pretty much said that alot of uranium companies are presently in the go slow mode, conserve cash because of the uranium price. Now that instantly made me think of Pen, what are they doing, they are doing the exact opposite. And that in itself is the difference when you are sitting on a low cost production in the making. Say no more!!

Cheers NK