Good find Steini,It may well have some significance, as I think...

Good find Steini,

It may well have some significance, as I think Pen attracted European investors on board from the last C/R. So with any luck this news out of Germany may encourage them to increase their stake.

No worries MAGADAN,

Your right about sustained traction. It just goes to show you how hard it is at present to please the market, with even a large upgrade announcement from 15 to 25 million lbs of U3O8 given virtually no re-rating.


They do seem to have a tight schedule coming up though, and provided they continue on course then you would think that the market can not keep ignoring Pen for much longer. Also lets not forget, if they keep on their project schedule for Lance then they could possibly be starting construction on the plant in less than a year.

Totally agree with you on tightening of the register before an offtake is concluded.

Im also keen to see how this upgrade will affect the bfs figures. Especially when you take into consideration they have confirmed the presence of vanadium, with a 2:3 ratio to uranium. So I'm guessing they are now looking at over 16ml lbs of vanadium, along with the 25ml lbs of uranium.

I found it interesting also to find that the vanadium price is trading at what looks like half of what it was trading at 3 years or more ago. Vanadium Price Charts
Even on the 6 month chart it shows that it has dropped quite significantly
So maybe the vanadium price has room to move northward as well, which may also improve the opex.

anyway, watch out for those low flying Bats MAGA.

NK