FYI - There is another contract being discussed (think its around 4 M lbs) - refer to EDGAR.
Some thought provokers & things to ponder
Expected announcements going forward (not in any particular order) - you can play the "price is right' & bring it on down
1. Another contract (as above)
2.NYSE listing
3. Roll out to financial institution Overseas (already done)
4. Roll out to USA retail
5. Karoo progress
a. mining license update
b. how much more ore delineated (refer Tasman Inc announcements)...Any estimates here. On the Pen site a diggers article gives a good overview of how big Karoo may actually be. If they convert currently what they have in Inferred (at say 50%), will push them towards 80-90M lb JORC.....still only what 1/4 to 1/3 of the estimated reserve....On that point has anybody seen how strategic the Karoo purchase was...Lots of little mines around (effectively stranded ..PEN will have economy of scale & first mover advantage here.)
6. Stage 2 linear ramp up (to lower OPEX)
Funding for Stage 2 (I was thinking oppies would almost do it plus a small loan) -only need $33 -$35m
7. Use the above contract to secure a loan facility (4mlb at $55lb = $220M, even with LVR 50% secures $110m)
8. Wyoming bond to tidy up all funding with stage 2 completion (personally think will come into play after stage 3 - there's an argument either way - Lein by Wyoming State being a sticking point.
9. 25M shares at the ready (as per last AGM).....can fund payment of ??????? I'll leave that to your researching. Window of opportunity to use is 3 to 6 months
10. We are a producer - recovery rates to be disclosed soon, watch this space
11. All house keeping out of the way (with exception of Form 20F)
12. I will take a punt that that OCs will be all converted or underwritten ----$23m in kitty
13. Lance imminent Stage 2 production.
14. Uranium spot down negligible volume, refer Greg Peel FN Arena article are these real buyers or just traders.
Still got plenty more, Things to make you go mmmmmmmmmmmmmmmm....
FYI - Pen company structure so you can see who's who in the zoo..SO much more than a mining company in Wyoming.
Being planned meticulously, unfortunately some collateral damage along the way.
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